For the purpose of TDS deduction, the value of the supply must be taken as the amount, excluding tax (GST), that is indicated on the invoice. Therefore, TDS must not be deducted on the CGST, State GST (SGST), or Integrated GST (IGST) component of the invoice. ...
For the purpose of TDS deduction, the value of the supply must be taken as the amount, excluding tax (GST), that is indicated on the invoice. Therefore, TDS must not be deducted on the CGST, State GST (SGST), or Integrated GST (IGST) component of the invoice. ...
Include GST tax component for TDS calculation: IGST, CGST, SGST On theSetupFastTab, selectAdd. In theWithholding tax codefield, selectPOG. SelectDesigner, and then create a record. In theTax codefield, selectPOG. In theTaxable basisfield, selectGross amount. ...
Include GST tax component for TDS calculation: IGST, CGST, SGST On theSetupFastTab, selectAdd. In theWithholding tax codefield, selectPOG. SelectDesigner, and then create a record. In theTax codefield, selectPOG. In theTaxable basisfield, selectGross amount. ...
1% SGST (State Goods and Services Tax) or 2% IGST (Integrated Goods and Services Tax) The bifurcation of CGST, SGST, or IGST depends on the nature of the transaction, whether it is an intrastate or interstate supply. Limit for Deducting TDS under GST TDS under GST applies when the total...
What is the value of supply on which TDS shall be deducted under GST? For the purpose of tax deducted at source under GST, the value of supply is to be taken as the amount excluding the tax indicated in the invoice. This means TDS shall not be deducted on the CGST, SGST/UTGST or ...
The value of supply needs to be taken as the amount excluding the tax indicated on the invoice. Thus, TDS need not to be deducted on the CGST, SGST, or IGST invoice component. For example, Supplier A, supplies worth Rs.5,000 to B. ...
SGST @ 14 % Rs. 14,000 Total Invoice Value Rs. 1,28,000 How to deduct TDS onGST billgiven above ? TDS to be calculated on the base (taxable value) = Rs. 1,00,000/- TDS rate in GST = 1% (CGST) and 1% (SGST) Calculation to be made excluding the tax amount (Rs. 1,28,00...
Include GST tax component for TDS calculation = IGST, CGST, SGST Click fast tab Setup. Click Add Select Withholding tax code = POG Click Designer. Create a new record. Set Tax code = POG Select Taxable basis = Gross amount Close the form. Attach withholding Tax ...
(iii) Invoice no. with date (iv) TDS Certificate no. with date and value (v) Taxable value (v) Rate of TDS for IGST, CGST and SGST as applicable (vi) Amount of IGST, CGST and SGST as applicable, deducted as TDS Click here to know GST rate on Goods and Services ...