For the purpose of deduction of TDS, the value of supply is to be taken as the amount excluding the tax indicated on the invoice. This means TDS shall not be deducted on the CGST, SGST or IGST component of invoice. ... So it can be said thatTDS is not deducted on the tax element...
Mr. Ram in Karnataka supplies a television to Mr. Rohan in Karnataka. The television’s price inclusive of GST is Rs. 20,000. Here, the tax rate remains same, i.e. 18%. Since the supply is intrastate, the type of taxes applicable areCGST + SGST. ...
charging the required CGST, SGST amount and will submit it to the government while furnishing hisGST return. In this case, the company can claim ITC only if the services have been provided in furtherance of business and the required tax amount have been paid while filing of theGST returns. ...
Tax Collected at Sourceis a process where the tax is collected by the e-commerce operator when a supplier sells goods and services through its portal, and the payment received by the e-commerce operator. TCS will be charged and collected at the rate of 1% (0.5% CGST and 0.5% SGST) for...