Get Quotes

Market Menu

News Details

( As on 11/09/2017 16:02) GST registration for TDS deductors to begin from Sep 18

The Indian Government has said that GST registrations for entities instructed to collect and deduct tax at source will start from September 18. However, the date from which tax deducted at source (TDS) or tax collected at source will be done will be notified later.

Commenting on the issue, a Government Official told the media, “The Goods and Services Tax (GST) Council, at its 21st meeting in Hyderabad, decided to open registration of persons liable to deduct TDS and TCS from September 18. As per the Central GST (CGST) Act, the notified entities are required to collect TDS at 1 per cent on payments to suppliers of goods or services in excess of Rs 2.5 lakh.”

“Also, e-commerce companies are required to collect 1 per cent TCS while making payment to suppliers under GST, which kicked in from July 1,” he added.

As per reports, following industry demands, the government in June had decided to defer the TDS and TCS provision for smooth rollout of GST.