The Central Board of Indirect Taxes and Customs (CBIC) has notified that the provisions relating to Tax Deduction at Source ( TDS ) shall not be applicable to the supply of goods and services between the Public Sector Undertakings ( PSUs ) under the Goods and Services Tax ( GST ) regime.
The Notification issued on Monday exempted such transactions between the PSUs.
“Provided further that nothing in this notification shall apply to the supply of goods or services or both from a public sector undertaking to another public sector undertaking, whether or not a distinct person, with effect from the 1st day of October, 2018,” the Notification said.
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