Demystifying Anti-profiteering in GST

Anti-profiteering is introduced in the GST Act based on the experience gained at the time of implementation of VAT in India and all other countries where GST / VAT is rolled out. The Government across the world felt that the until and unless there is a provision in the law the benefits of the new tax regime are not being passed.Demystifying Anti-profiteering in GST

Demystifying Tax Deduction at Source under GST Act

In the erstwhile tax regime under VAT, we have Tax Deducted at Source, and the same is being continued under GST also. Section 51 of the Central Goods and Service Tax Act, 2017 talks about the provisions related Tax Deduction at Source. TDS is applicable only to works contract related to immovable properties in GST. For more details Demystifying Tax Deduction at Source under GST Act

TDS Provisions in GST

The taxable person liable to Tax Deduction at Source is required to take registration under GST and for that, the registrations on the GST portal will start from 18th of September 2017 ( based on the press release after the 21st GST Council Meeting). The actual date of commencement of TDS  will be notified accordingly. for more information click here