https://www.taxtmi.com/article/detailed?id=8185 The GST regime introduced TDS from 1 October 2018 obliging specified government bodies and PSUs to deduct tax at source on payments for taxable supplies where the total contract value exceeds the notified threshold. Deductors must obtain registration, withhold at the prescribed composite rate on payments made or credited, file the prescribed return reporting deductions, deposit amounts withheld, and issue a TDS certificate to suppliers. Significant open issues include transitional application to pre existing contracts, treatment of part payments, whether contract value or individual supply value triggers deduction, applicability to inter state and inter unit transactions, and treatment of supplies that are exempt by notification. en-us Wed, 03 Oct 2018 06:51:44 +0530 Wed, 03 Oct 2018 06:51:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8185 The GST regime introduced TDS from 1 October 2018 obliging specified government bodies and PSUs to deduct tax at source on payments for taxable supplies where the total contract value exceeds the notified threshold. Deductors must obtain registration, withhold at the prescribed composite rate on payments made or credited, file the prescribed return reporting deductions, deposit amounts withheld, and issue a TDS certificate to suppliers. Significant open issues include transitional application to pre existing contracts, treatment of part payments, whether contract value or individual supply value triggers deduction, applicability to inter state and inter unit transactions, and treatment of supplies that are exempt by notification. Articles Goods and Services Tax - GST Wed, 03 Oct 2018 06:51:44 +0530 https://www.taxtmi.com/article/detailed?id=8185