TDS

Persons who are mandated to deduct tax at source as per section 37 from the payments made to their supplier for supplies made to them will have to submit details of deductions made so that the taxpayers on whose behalf deductions have been made are able to claim credit for the same.

In their TDS return, the TDS deductors will give following details for every transaction:

(i) GSTIN/GDI of deductor

(ii) GSTIN of deductee/supplier

(iii) Invoice no. with date(iv) TDS Certificate no. with date and value

(iv) Taxable value

(v) Rate of TDS for IGST, CGST and SGST as applicable

(vi) Amount of IGST, CGST and SGST as applicable, deducted as TDS

As explained earlier, these details will be available with the GST common portal by 10th of the month and the same will be auto-populated in the returns of the taxpayers on whose behalf the deductions have been made. These deductees will claim the credit for these deductions in their return and their cash ledgers will be credited by the amount of deduction made by the deductors.