Goods and Services Tax – GST – By: – Dr. Sanjiv Agarwal – Dated:- 16-1-2018 – Section 51 of the CGST Act is relevant in respect of tax deduction at source provisions under GST. Tax deducted at source as provided in section 51of the GST Act is a mechanism to track the transaction of supply of goods and/or services by making the recipient of such supply to deduct a small percentage of amount to be paid to the supplier of such goods and/or services and deposit the same with the government. The supplier of such cases takes into account the amount so deducted and makes the balance payment of tax to the government. When tax would be deducted at source As per section 51 of the GST Act, the tax at source is required to be made, where the total val
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recommendation of GST Council. Deposit of TDS The amount of tax deducted would be required to be deposited to the credit of appropriate Government(Central Government for CGST and IGST, State Government for SGST) account within a period of 10 days after the end of month in which such deduction was made. Credit of TDS The deductee (taxable person from whose payments tax has been deducted) will take the credit of TDS deducted from his payments on the basis of certificate to be issued by deductor. The deductee will claim the credit in his electronic cash ledger, the claim of which will be matched with the return of the deductor filed for the said period. TDS Certificate The certificate is required to be issued by deductor to deductee within 5 d
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