WebGST TDS As per Section 51 of CGST Act, recipient of goods and services shall deduct TDS of 2% on payment amount where contract amount exceeds INR 250000. The recipient will issue a certificate for the tax amount deducted against the payment made for … WebFeb 9, 2024 · Step 1: Log in to GST portal. Step 2: Go to ‘Services’ > ‘Returns’ > ‘TDS and TCS Credit Received’. File returns dashboard appears. Step 3: Select the return period and proceed to the ‘TDS/TCS credit received’ tile. Choose the Financial Year & Return Filing Period for which return has to be filed and then click on SEARCH.

Tax Collected at Source What is TCS?

WebWhat is TDS? As per Income Tax Act, 1961, any individual or entity shall deduct tax at source at the time of payment for the purchase of goods (e.g., real estate) or services (e.g., salary, rent, professional fees, contractual expenses, royalty, technical assistance, etc.) or interest (e.g., interest on fixed deposit), if the payment amount breaches a pre-notified … WebTCS full form stands for Tax Collection at Source under GST (TCS) is similar to TDS but has a few key differences. TDS is the tax deducted when the recipient of goods or services makes payments under a contract. Except for a few exceptions, every e-commerce operator must begin collecting TCS on October 1, 2024. many moments later meme

Difference Between TDS and TCS: What is TDS and TCS - Tax2win

WebThe book is ‘user friendly’ and provides numerous illustrations for understanding the provisions of deduction of tax at source as well as collection of tax at source under GST Law. The transitional issues arising … WebLogin to the GST Portal with valid credentials. Click theServices > Returns > TDS and TCS credit receivedcommand. 2. The TDS and TCS credit receivedpage is displayed. Select the Financial Year& Return Filing Period(Month) for which you want to file the TDS and TCS Credit Received from the drop-down list. Click the SEARCHbutton. 3. WebTCS full form stands for Tax Collection at Source under GST (TCS) is similar to TDS but has a few key differences. TDS is the tax deducted when the recipient of goods or services … manymonths cagoule