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What is GST TDS Mechanism Explained about?

1) Under GST, tax deduction at source (TDS) provisions require certain persons like government departments to deduct 1% tax on payments exceeding Rs. 250,000 to suppliers. 2) The deducted tax amount must be deposited with the government by the 10th of the next month. 3) A TDS certificate must be issued to the supplier within 5 days, or a late fee of up to Rs. 5,000 may apply. Non-compliance can attract interest and penalties.

Author

Deepak Wadhwa

Language

EN