The Institute of Chartered Accountants of India (ICAI) has unveiled the updated handbook on Tax Deduction at Source (TDS) provisions under Goods and Services Tax (GST).
The incorporation of Tax Deducted at Source (TDS) provisions into the GST law represents a strategically devised mechanism aimed at promoting a smooth revenue flow and bolstering tax compliance. These TDS provisions were enforced on October 1, 2018.
In 2020, the GST & Indirect Taxes Committee published the “Handbook on TDS Provisions under GST.” Subsequently, in response to amendments in the TDS regulations, the Committee has diligently revised the Handbook, ensuring that it encompasses all the amendments up to September 30, 2023.
To help you understand various GST compliance matters, the GST & Indirect Taxes Committee of ICAI has initiated the creation of a Handbook. As part of this effort, we have prepared a Handbook on TDS Provisions.
The Chairman of the committee has informed that their goal is to consolidate all the information related to TDS Provisions under GST in one place, providing general guidance to all stakeholders. This Handbook is designed to assist you in resolving any issues that may arise during your GST compliance activities.
According to them, the Handbook on TDS Provisions under GST is a comprehensive resource that includes an analysis of all relevant provisions within the law. It encompasses notifications, circulars, or orders issued by the Government up to March 31, 2020, and offers additional aids such as FAQs, multiple-choice questions, flowcharts, diagrams, and illustrations to enhance your reading and comprehension experience.
The Contents covers:
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