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Sep 5, 2024 · Step 1: Login to GST Portal. Step 2: Go to ‘Services’ > ‘Returns’ > ‘Returns Dashboard’. ‘File Returns’ dashboard appears. Step 3: Select the return period of GSTR-3B being filed and proceed to ‘TDS/TCS credit received’ tile. Choose the ‘Financial Year’ & ‘Return Filing Period’ for which return is to be filed and ...
Aug 1, 2024 · The GST portal will automatically make GSTR-7A available to the deductee on the basis of the GSTR-7 filed. How will the Value of supply on which TDS shall be deducted be considered? For the purpose of deduction of TDS, the value of supply is to be taken as the amount excluding the tax indicated on the invoice.
The 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 received page is displayed. Select the Financial Year & Return Filing Period (Month) for which you want to file the TDS and TCS Credit Received from the drop-down list.
Feb 9, 2019 · Step 1: Log in to the GST portal. Step 2: Go to ‘Services’ > ‘Returns’ > ‘TDS and TCS Credit Received’. File returns dashboard appears. Step 3: Select the return period and proceed to the ‘TDS/TCS credit received’ tile. Choose the Financial Year & Return Filing Period for which the return has to be filed and then click on SEARCH.
- An amount of TDS or TCS Credit is provided to the respective assessees if an excess amount is deducted or collected by the respective party respons...
- Some corresponding tables are included, for the auto calculation of TDS or TCS Credit Received given in form GSTR 7 and GSTR 8, according to form G...
- All the assesses from which the TDS or TCCS is deducted or collected are required to file the credit received under form GSTR 2A/form GSTR 2 or for...
- It is not compulsory for the assessee to file the TDS or TCS Credit Received for each of the tax periods.
- The assessee can file the TDS or TCS Credit Received under the Returns Dashboard available on the GST portal. On the GST portal go through Services...
- Two options are available on the action field viz. Accept and Reject.
- The rejected amount details will be adjusted through form GSTR 7 or GSTR 8 accordingly for the purpose of amendments but only after filing the TDS...
- The respective amount of TDS or TCS Credit Received will be credited into the electronic cash ledger of the assessee but only after filing the TDS...
- The records accepted by the assessee can not be changed once they have been filed.
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Jul 24, 2024 · These terms are even present under the Income Tax law. TDS and TCS under GST came into effect from 1st October 2018. TDS refers to the tax which is deducted when the buyer of goods or services, such as government departments, makes payments under a business contract. On the other hand, TCS refers to the tax which is collected by the electronic ...
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How to file TDS & TCS credit received on GST portal?
How to file TDS & TCS credit received?
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Dec 7, 2022 · The taxpayer whose TDS is deducted or TCS is collected must file the ‘TDS and TCS received’ on the GST portal. The present article provides an understanding of the need to file the ‘TDS and TCS credit received’, the procedure for filing the same online, and also describes the effect of ‘Accept’ or ‘Reject’ by the deductee (taxpayer).
