GST: Tax deducted at source (TDS), tax collected at source (TCS) provisions kept in abeyance
A senior revenue official said the GST Implementation Committee (GIC), headed by the revenue secretary, has decided to keep in abeyance the TDS/TCS provision and GST by way of RCM by another three months.
The revenue department has decided to keep in abeyance goods and services tax (GST) provisions relating to reverse charge mechanism, tax deducted at source (TDS) and tax collected at source (TCS) for another three months till September-end.
The GST Council in its meeting on March 10 had suspended the provision for deduction of TDS and collection of TCS, as well as the implementation of the reverse charge mechanism (RCM) till June 30.
A senior revenue official said the GST Implementation Committee (GIC), headed by the revenue secretary, has decided to keep in abeyance the TDS/TCS provision and GST by way of RCM by another three months.
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“The GIC has decided to postpone by three months the TDS/TCS and RCM provisions. Notification will be issued shortly. The GIC decision has been circulated to the states for issue simultaneous notification,” the official said. Entities have to collect TDS at 1% on payments to suppliers.
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