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GST Acts

Demystifying Tax Deduction at Source under GST Act

In the erstwhile tax regime under VAT, we have Tax Deducted at Source, and the same is being continued under GST also. Section 51 of the Central Goods and Service Tax Act, 2017 talks about the provisions related Tax Deduction at Source. TDS is applicable only to works contract related to immovable properties in GST. For more details Demystifying Tax Deduction at Source under GST Act

 

TDS Provisions in GST

The taxable person liable to Tax Deduction at Source is required to take registration under GST and for that, the registrations on the GST portal will start from 18th of September 2017 ( based on the press release after the 21st GST Council Meeting). The actual date of commencement of TDS  will be notified accordingly. for more information click here 

 In GST government wants the trade and industry to pass the tax benefit to the common man and in this the role of Cost and Management Accountants is very critical and this blog describes the steps the trade and industry should take before the roll out of GST read the blog for more information Role of CMA’s in Anti-Profiteering Clause of Goods and Service Tax