On posting of voucher for GST TCS - Interstate Transaction, GL Entries will be as following: 展開資料表 ParticularsAmount Customer Account -1000 IGST TCS Receivable Account 10 Bank Account 990GST TDS on customer paymentGST TDS is applicable for Registered Customers. User can calculat...
Initial achieved threshold value: The CBDT clarification states, "It may be noted that this TCS shall be applicable only on the amount received on or after 1st October 2020. However the threshold is based on the yearly receipt, it may be noted that only for calculation of...
GST Registration in the state of Maharashtra More recent discussions|Post RelatedThreads Gst r 1 late fee Whether interest is applicable on wrong itc availed but not utilized? how to cancel TDS registration RCM ON FREIGHT IS APPLICABLE ON REGISTRED TRANSPORTERS OR ALL FREIGHT IS UNDER RCM ...
Section 51 of the Central Goods and Services Tax Act, 2017 includes the plan narrating tax deduction under GST. As per the plans, the subsequent divisions of the individual is applicable to deduct TDS (i.e. following classifications of individuals are TDS deductor A department/ establishment of...
Introduced “Initial achieved threshold value” concept: As per CBDT clarification, “it may be noted that this TCS shall be applicable only on the amount received on or after 1st October 2020. However the threshold is based on the yearly receipt...
Also, the notified entities are directed to collect TDS at one percent on the payments done to the suppliers of Goods or services. The Tax deducted at source (TDS) and Tax collected at source (TCS) provisions would be applicable from 1st of October as notified by the Government. Below ...
Ensure to make on-time TDS payments, always with RazorpayX Instant TDS Payment Tool. Pay TDS in 30 seconds TDS and TCS under GST Under the Goods and Services Tax (GST) regime in India, TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) are applicable in certain scenarios...
GST should be calculated normally as back ward calculation. TCS to be calculated on customer receipt (through general journal, cash receipt journal or bank receipt journal) For example, payment has been received from customer for INR 1,00,000 on which 0.10 % TCS is applicable for Nature ...
Not applicable - New Regulatory feature Setup Steps to do setup for TCS on sale of goods: Please note that it is mandatory for user to apply “Advance threshold” feature to enable deduction of TCS on sales of goods scenarios. Create new withhol...
Topic 3 - TDS under Section 195 on payments made to Non-Residents [DTAA vs ITA, Applicable Rates of TDS, Royalty/FTS] Experienced Faculty CA Rohan Sogani, is a Chartered Accountant and Law Graduate with over 13 years of experience in Direct Tax, litigation and advisory, and Foreign Exchan...