Tds tcs gst return
WebApr 11, 2024 · The GST authorities are looking into another 28 private insurers for using fraudulent input tax credits (ITCs) to pay financing businesses extra commissions for bogus services by providing manpower or by paying in kind. Insurance companies have paid up to 70% of the first-year premium under different headings, in contrast to the allowable 15% fee. WebQuarterly or Monthly Returns Starting from 1st January 2024, a person with turnover more than Rs. 5 crore has to file on monthly basis only. A person with turnover up to Rs. 5 crore in the preceding year can file return on quarterly basis. However, he can choose to file on monthly basis also.
Tds tcs gst return
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WebApr 3, 2024 · TDS and TCS under GST is an acronym for tax deduction at source and tax collection at source. These terms are even present under the Income Tax law. TDS and TCS under GST came into effect from 1st October 2024. WebIn case of the TCS, the interest rate remains 1%. TDS and TCS under GST. This applies to e-commerce businesses. Every e-commerce company has to collect some tax on the net …
WebOct 6, 2024 · e-Filing TDS/TCS Return Due Date AY 2024-21 (FY 2024-20) File All Your GST Returns with Gen GST Software (Available in Desktop and Online (Cloud) Variant) Due Dates: GSTR 3B, GSTR 1, (GSTR 9, and GSTR 9C) and GSTR 4 Respectively as Follows: 20 March, 11 March , 31 March and 18 Apr 2024 (Read a Guide) Get A Free Demo Now !! WebJan 30, 2024 · TDS & TCS Return Filing... #academycommerce #tds #tcsWhat is TDS in GST ?What is TCS in GST?In this video, we learn all about TDS & TCS Return Filing in Detail.
WebThe GST Home page is displayed. Login to the GST Portal with valid credentials. Click the Services > Returns > TDS and TCS credit received command. 2. The TDS and TCS credit … WebJan 30, 2024 · TDS & TCS Return Filing... #academycommerce #tds #tcsWhat is TDS in GST ?What is TCS in GST?In this video, we learn all about TDS & TCS Return Filing in Detail.
WebDec 8, 2024 · How to claim GST TDS? Steps to claim TDS online are: 1. Log in or register at Income tax portal. 2. Fill in the mandatory fields on the applicable Income Tax Return (ITR) form. 3. Portal generates confirmation message after receiving ITR. 4. Enter OTP to verify the acknowledgement. What is the penalty for GST nil return?
WebApr 15, 2024 · The basic difference between TDS and TCS in GST lies in their applicability, the threshold limits beyond which they are applicable, the rates of deduction and collection, the due date for depositing the tax collected, and so on. TDS Under GST: TDS under GST is applicable when the sale of goods or services exceeds Rs.2.5 Lakhs. hotels in guildford waWebNov 28, 2024 · Tax Collected at Source, or TCS is a tax imposed on goods by the seller, who collects it from the buyer at the time of sale. Section 206C of the Income Tax Act, 1961 … lilienthal apothekeWebThe two taxes under Goods and Services Tax (GST) are Tax Deduction at Source (TDS), and Tax Collected at Source (TCS). These terms are categorised under the Income Tax Act and have a tremendous impact on the GST Act. The taxation has … hotels in guisboroughWebNov 17, 2024 · Please login to GST Portal & navigate to Return Dashboard for the month you wanted to claim TCS Credits. Return dashboard would look like in the Image #2. Please click on the “Prepare Online” under “TDS and TCS Credits received” section. #2: Return Dashboard before accepting & filing “TDS and TCS Credits received”. lilienthal apotheke 15732WebApr 11, 2024 · If a seller makes more than Rs 40 lakh in annual revenue, they must register for GST in order to store their goods in a State. However, the seller must register a place of business and designate it as a principal place of business (PPOB) in the state where they run their operations to register for GST. At this time, the law does not clarify any ... lilienthal apotheke lilienthalWebJun 28, 2024 · 9 comments. TDS and TCS on Goods – Analysis. The Finance Act, 2024 had introduced Section 206C (1H) for levy of Tax collected at source (TCS) on sale of goods by a seller from a buyer & thereafter the Finance Act, 2024 has introduced Section 194Q to provide for deduction of tax (TDS) by a buyer from the purchase of goods. lilienthal asia modernWebAug 19, 2024 · TDS so deducted in GST is also claimed in a similar way. Step 1: The first step would be to open the GST portal at gst.gov.in. Once the GST portal is opened, we … lilienthal apotheke ivom