The buyer, a government company, enters into a contract with a supplier to buy goods and/or services where the total value of the taxable supply that is under contract, excluding GST, exceeds 2,50,000 Indian rupees (INR 2,50,000). The buyer can deduct GST TDS from the payment ...
Tax Deduction at source is a way by which leakage of revenue to Government is ensured to some extent. Like direct Tax, TDS is also implemented for Indirect Tax.
1% SGST (State Goods and Services Tax) or 2% IGST (Integrated Goods and Services Tax) The bifurcation ofCGST, SGST, or IGSTdepends on the nature of the transaction, whether it is an intrastate or interstate supply. Limit for Deducting TDS under GST ...
Water tank maintenance and cleaning are crucial components of ensuring the longevity and efficiency of the system, as well as safeguarding the environment. Regular maintenance can prevent the build-up of bacteria and algae, which can contaminate the water supply and pose health risks to consumers....
Hence, the TDS is deductable when only a contract/single purchase order exceeds Rs.2,50,000/-. In simple words, no TDS will be attracted of the value for the supply of goods and services or both, under the contract is up to Rs.2,50,000/-. Below is the explanation with an example...
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5.5. Save for already provided in this Condition 5, our liability for death or personal injury caused by our negligence shall be unlimited and for all other loss or damage which you may suffer or incur in connection with the supply of Goods under this Contract caused by a natural and ...
Torang Darya Shipping Company, as the first Iranian NVOCC company with years of experience and adherence to the principles of transporting goods according to domestic and international laws and regulations, and providing regular services with experienced operating groups and elite experts, proudly in the...
Here is the detailed article on TDS & TCS under the GST law – a complete guide to understand the latest provisions & implementation of the same.
The supplier of Taxable Goods or services is liable to deduct the TDS at the rate of 2% under GST when the value of supply of any goods or services under a contract exceeds Rs 2,50,000. A TDS deductor on a compulsory basis is required to be registered in GST irrespective of threshold...