The Central Board of Indirect Taxes and Customs ( CBIC ) has updated the Standard Operating Procedure on TDS under the GST regime.
The concept of Tax Deduction at Source (TDS) was there in the erstwhile VAT Laws. GST Law also mandates Tax Deduction at Source (TDS) vide Section 51 of the CGST/SGST Act 2017, Section 20 of the IGST Act, 2017 and Section 21 of the UT GST Act, 2017. GST Council in its 28th meeting held on 21.07.2018 recommended the introduction of TDS from 01.10.2018.
The procedures of TDS along with related legal provisions are discussed in the document for the understanding of the stakeholders including the Drawing and Disbursement Officers (DDOs) who are required to deduct tax in accordance with the provisions of the GST Laws.
The documents also contain Frequently Asked Questions [FAQs] on TDS.
It also explains the persons liable to deduct TDS under GST Laws and the registration requirement for TDS deductors and the procedure of Registration.
