TDS not applicable to Supplies between Public Sector Undertakings: CBIC [Read Notification]
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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...
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.
To Read the full text of the Notification CLICK HERE