I see you want to know what is TDS in GST. I will help you with a complete answer. TDS is a method for collecting taxes at the source of income. However, the TDS is not directly related to GST.
TDS is governed by the Income Tax Act, while GST is a separate indirect tax regime.
If you are a buyer, you should deduct a certain percentage of the amount as the TDS at the time of crediting or at the time of payment, whichever is earlier. You are required to deposit with the government on behalf of the payee.
On the contrary, GST is a consumption-based tax levied on the supply of goods and services. It is not deducted at the source like TDS. It is collected at the time of supply.
There can be many cases where both are applicable to a transaction.
For example, if your payment is subjected to TDS and also subject to GST, TDS will be deducted on your total invoice amount, including GST.
In summary, TDS is an income tax provision, and GST is an indirect tax. This is all about
what is TDS on GST.
Get your legal matters resolved online with NoBroker
Read more
How to change address in GST certificate?
What is TDS in GST?
Pragati
40 Views
1
1 Year
2023-11-29T18:27:50+00:00 2023-11-29T18:27:51+00:00Comment
Share