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INTRODUCTION Goods & Services tax (GST), is a comprehensive, destination based indirect tax levied on manufacture, sale and consumption of goods & services as well as on import of goods & services, except on zero rated and exempt supplies. The registered person under GST is required to assess his own tax liability, utilize ITC & pay his GST liability within due date & file re......
Central Government vide notification No.50-Central Tax-Dated 13-09-2018 & notification No.51-Central Tax-Dated 13-09-2018 has appointed 1st day of October 2018 as the date on which the provision of Sec 51 (TDS) & Sec 52 (TCS) shall come into force. Who is required to Deduct TDS Section 51 of the CGST Act, 2017 has prescribes the authority and procedure for ‘Tax Deduction at Source.......
Finance Act, 2013 has introduced Sec 194-IA which provides for deduction of tax at source in case of payment of sale consideration of immovable property (other than rural agricultural land) to a resident transferor w.e.f 1st June 2013. It is the responsibility of the buyer to deduct TDS if the transaction value exceeds Rs. 50 lakh. The buyer is required to deduct TDS @ 1% on the total considerati......
