TDS Provisions under GST (Section 51 of CGST Act, 2017)

Section 51 of the CGST Act, 2017 contains the provisions related to TDS. Following are the provisions related to TDS:

TDS provisions under GST are summarised below for a better understanding.

A.      Applicability of TDS provisions:

The Central Government/State Government may mandate:

•          A department or establishment of the Central or State Government, or

•          Local authority

•          Governmental agencies

•          Such persons or category of persons as may be notified

It would be applicable where the total value of supply under a contract exceeds two lath and fifty thousand rupees ( Rs. 2,50,000).

B. Rate :

It is required to deduct tax @ 1% CGST and 1% SGST/UTGST or 2% IGST from the payments made to the supplier (For deducting TDS, the value of supply shall be taken as the amount excluding the tax indicated in the invoice).

C. Deposit of TDS to the Government:

The tax deducted by the deductor shall be paid to the appropriate
Government within 10 days from the end of the month in which the
deduction is made.

D. Failure to deposit TDS:

In case the deductor fails to pay the tax deducted to the Government, he shall be liable to pay interest in addition to the amount deducted.

E. Issue of Certificate of deduction:

On deducting the tax, the deductor has to furnish a certificate of deduction to the deductee within five days of crediting the amount deducted to the appropriate Government.

The certificate shall contain the contract value, rate of deduction, amount deducted, amount paid to the Government and any other details which may be prescribed.

F. Failure to Issue certificate:

Failure to furnish the certificate within timeframe will attract late fee of Rs. 100 per day after the expiry of five days till the failure is rectified, subject to a maximum amount of Rs. 5000.

G. Return for Tax deducted at source:

Deductor has to file a monthly return of tax deducted by 10th of the succeeding month in GSTR-7.

H. Credit of tax deducted in electronic cash ledger of deductee:

On the basis of the information reflecting in the TDS return of the deductor, the deductee can claim the credit in his electronic cash ledger of the tax deducted.

I. Refund:

In case of excess deduction or erroneous deduction, refund to the deductor or deductee will be dealt in accordance with the refund provisions of the draft law.

However, there will be no refund to the deductor in case the amount deducted has already been credited to the electronic cash ledger of the deductee.

 
Related Topics ....
TDS Provisions under GST (Section 51 of CGST Act, 2017)
Deemed Exports under GST [Section 2(39) of CGST Act, 2017]
GST Input Service Distributor (ISD) [ Section 2(61) of CGST Act,2017]
GST Compliance Rating [ Section 149 of CGST Act,2017]
JOB Work Provisions under GST
 
 
 
GST (India)
F.A.Q. on GST
GST Forms Download
GST Compensation Law
GST Enrollment Process
GST Law & Act.
GST Rules
GST Schedule ( I to V )
IGST Law & Act.
GST A Practical Knowledgebase
Filing GST Return
Enroll & Registration with GST
GST Office Tool to File GST Return
LIBRARY @ Tax Management
TAX & INVESTMENT GUIDE FOR "NRI"- Non-Resident Indians !
GUIDE & FAQ @ TAX
GRAPHICAL PRESENTATION @ TAX
TIPS & TRICKS @ TAX
MANAGERIAL & FINANCIAL DECISIONS @ TAX
5 GOLDEN RULES OF TAX PLANNING
FAMILY TAX PLANNING
DEDUCTIONS FROM YOUR INCOME
EXEMPTED INCOMES
HUF - FORMATION, MANAGEMENT & TAX PLANNING
COMPUTATION OF GROSS TOAL INCOME
INCOME TAX @ GLANCE
MULTIPLE KNOWLEDGEBASE ON TAX
51 TIPS ON TAX PLANNING
APPEALS UNDER INCOME TAX
ASSESSMENTS
PENALTIES UNDER IT DEPATMENTS
TAX SAVING SCHEMES
TAX READY RECKONER
TAX RATES
PROSECUTIONS UNDER INCOME TAX DEPARTMENT
TAXATION SYSTEM IN INDIA
CHARITABLE & RELIGIOUS TRUST - TAXATION
PRESCRIBED FORMS WITH with Section / Rules
 
TAX @ KNOWLEDGE BASE !

Most Popular Links :

Clubing of Income Deduction U/s 80C
Allowances Us-17(3) Exemption-Salary
Tax Amendment-2015 Taxable Income
Clubing of Income Tax Deductions
HUF Deduction HUF Investment
Gift by HUF HUF Tax Planning Tips
Tax Saving Schemes Tax Planning Tips
Refund of Tax Fringe Benefit Tax-FBT
Return Filing Assessment / Scrutiny
Notice from I.T. Dept. Incomes Types @ TDS
Exemptions-Tax Returns “Summon” U/s 131
'Black Money' @ I.Tax Big Gifts To Be Taxed
'Appeals' under I.Tax Assessment @ I.Tax
Exempted Incomes Capital Gain
Business & Professions House Property
Salaries @ I.Tax Partnership Firm
'Penalty' under I.Tax Act. Tax Ready Reckoner
Charitable Trust Useful Links @ I.Tax
 
Tally.ERP9 Book Online Order Tally.ERP9 Book Content
 

Disclaimer:
All efforts are made to keep the content of this site correct and up-to-date. But, this site does not make any claim regarding the information provided on its pages as correct and up-to-date. The contents of this site cannot be treated or interpreted as a statement of law. In case, any loss or damage is caused to any person due to his/her treating or interpreting the contents of this site or any part thereof as correct, complete and up-to-date statement of law out of ignorance or otherwise, this site will not be liable in any manner whatsoever for such loss or damage.

The visitors may click here to visit the web site of Income Tax Department for resolving their doubts or for clarifications