TaxTMI 
TaxTMI 
Works Contracts and Tax Deduction at Source (TDS) under GST.
X X X X Extracts X X X X
X X X X Extracts X X X X
....acts and Tax Deduction at Source (TDS) under GST. The Goods and Services Tax has come into force w.ef 1^st July, 2017. Central Taxes like Central Excise Duty, Service Tax, Additional Duties of Excise, Additional Duties of Excise (Textile and Textile products), Special Duties of Customs etc. and State taxes like VAT, Entry Tax, CST, Entertainment Tax etc. are subsumed in GST. GST has two compone....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ntral Government or State Government; or (b) Local authority; or (c) Government agencies; or (d) Such persons or category of persons as may be notified by the Government on the recommendations of Council, (hereafter in this section referred to as the "deductor"), to deduct at the rate of one percent from the payment made or credited to the supplier (hereafter in this section referred t....
X X X X Extracts X X X X
X X X X Extracts X X X X
....which such deduction is made. The deductor shall furnish a certificate in FORM GSTR-7A to the deductee within five days after making deduction. Failure to furnish Certificate within five days attracts penalty of Rs. 100/- per day subject to maximum Rs. 5000/-.The deductor shall furnish a return in FORM GSTR-7 within ten days in the succeeding month. Failure to file return within the stipulated dat....
X X X X Extracts X X X X
X X X X Extracts X X X X
....(28%), iron rod (18%), on input services like architect's charges (18%), etc. The works contractor may purchase materials from inside or outside the state. Since taxa like Excise Duty, Service Tax, VAT and Entry Tax have been subsumed in GST, the contractor will pay only the GST on the inputs of both goods and services, which do not contain any other tax element. The, contractor is entitled to....