Government extends deadline for filing TDS returns for Oct-Dec to Jan 2019

By: |
New Delhi | November 30, 2018 5:31 PM

The TDS provisions under the goods and services tax (GST) were brought into effect from October 1, 2018.

Also, states levy 1 per cent TDS under state laws.

The government has extended the due date of filing tax deducted at source (TDS) returns under GST laws for the October-December period till January 31, 2019. The TDS provisions under the goods and services tax (GST) were brought into effect from October 1, 2018. According to the Central GST (CGST) Act, the notified entities are required to collect TDS at 1 per cent on payments to goods or services suppliers in excess of Rs 2.5 lakh.

Also, states levy 1 per cent TDS under state laws. The Finance Ministry, through a notification, extended the due date for filing TDS returns under GST for the October-December 2018 period, till January 31, 2019. PwC India Partner and Leader (Indirect Tax) Pratik Jain said issues were being faced on GST portal as regards acceptance of tax deducted by the deductor for claiming credit/ benefit by the deductee and generation of TDS certificates.

“Even after following the steps, TDS certificates were not getting generated in certain cases, leading to disputes between deductor and deductee,” Jain said. He said the government should consider all such challenges being faced in the entire workflow of TDS return filings and make necessary changes on the GST portal.

Do you know What is India expected to grow 10 pc during current fiscal: NCAER Director General Poonam Gupt,FinMin releases Rs 9,871 cr grant to 17 state, Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1U.S. takes aim at China’s ‘unfair trade practices’ at WTO review
2India expected to see higher salary with 9.3 pc hike in 2022: Report
3IMF Chief Economist Gita Gopinath to leave job and return to Harvard University