TDS & TCS provisions under GST

Finance Ministry defers implementation of provisions relating to Tax Deduction at Source (TDS) and Tax Collection at Source (TCS), after taking into account feedback received from trade and industry.

Accordingly, persons liable to deduct or collect tax at source in terms of Section 51 and 52 of CGST Act respectively, will be required to take registration but liability thereto will arise from date respective sections are brought into force.Resultantly, persons supplying goods or services through e-commerce operator would not be required to obtain registration immediately, unless they are so liable u/s 22 or any other category specified u/s 24 of CGST / SGST Act.According to Finance Ministry, “This step has been taken to provide more time for persons liable to deduct tax at source / E­-Commerce Companies and their suppliers to prepare for the historic tax reform.”

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