GST TDS FULL FORM – Is a mechanism reliable on deduction basis


GST TDS Full-Form as mention as Tax Deducted at Source and also Tax Collected at Source. 

Whenever from the Government of India implement GST (Goods and Services Act 2017 ), There are basic types are also implied that likes CGST, SGST, and IGST.  

As per showing description of TDS full Form (Tax deducted at Source) and TCS ( Tax Collected at Source).  

The TDS (Tax deducted at Source) it means that a small amount of payment is liable to pay Government by a person who is eligible for and as per the term of TDS.

Implementation of full form TDS in GST:

The implementation date of TDS in GST as per the Government of India is 1 October 2018. 

GST Tax Deducted at Source Term of full form TDS:

 It means to be GST payer is liable to pay TDS as per the Government specified rate under specified taxes like as we discuss SGST, CGST, and IGST is payable on a taxable amount on before Deduction of GST.

Rates for TDS:

TDS deducted as a small amount of payment to the Government. Which is notified by CBIC (at the rate of 2% as per divided similarly in CGST at 1% and in SGST at 1%. In IGST, 2% on the amount is chargeable to pay Tax.

Section for TDS:

As per the GST Act, 2017, TDS implied in Oct 2018, under section 51. 

TDS Deduction applicable authorities:

  • Establishments or departments under the Central Government and State Government 
  • Other Local Authorities
  • Governmental Agencies
  • Persons and categories of persons notified by the Government as per Council

As per the notifications:

Under the notification no. 50/2018 authorities, namely:

  • Authority set up by Parliament and State Legislature.
  • Establishment by Government

With 51% participation for doing any function

  • Societies under Society Registration Act, 1860
  • Public sector undertakings

Exemption as per notifications:

  • Notification no. 61/2018

Supply made under public sector undertakings to other public sector undertakings

  • Notification no. 73/2018

Supply by one person to another person under department/establishment made by Central and State Government and local authorities, other agencies.

Supply amount liable for Deduction: 

In the full Form of TDS, there is provided applicability on the contract value of supply is exceeds two lakh fifty thousand. 

The contract value of the amount:

When a person bonds with a contract for the supply of specific goods and services which have a total cost of a deal exceeds as per limit. But he paid small amounts of installments as prescribed in the contract since a person liable to pay TDS of GST.

The contract value of supply excludes:

  • UTGST (Union Territory GST)
  • CGST (Central GST)
  • SGST (State GST)
  • Cess

Registration under GST:

It is mandatory for the person who fulfilled the criteria to get GST registration through Tax Deducted and Collected Account Number (TAN).

Certification of GST TDS:

Certificate issue in Form GSTR 7A after the payment made to the Government within five days. If it fails to comply with the person liable on late fee charge which about to INR 100/- per day and maximum load applicable as INR 5000/-

Payment made for GST TDS:

The deductible amount should be payable by a person after the end of the month within ten days.

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