Fwd: Taxsutra News Alert : No TDS on GST component of service remuneration clarifies CBDT

[Sunil MALOO]

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Thanking You,

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Sunil MALOO | Partner

+91-9173032720​

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Surana Maloo & Co. | Chartered Accountants
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---------- Forwarded message ----------
From: Lalchand Meghwal <lalchand...@taxsutra.com>
Date: Wed, Jul 19, 2017 at 5:27 PM
Subject: Taxsutra News Alert : No TDS on GST component of service remuneration clarifies CBDT
To: Lalchand Meghwal <lalch...@gmail.com>

No TDS on GST component of service remuneration clarifies CBDT CBDT clarifies that 'GST on services' not to be included while making TDS on remuneration of such services whenever in terms of agreement/contract between payer and payee, such GST component is separately indicated; Further clarifies that GST for this purpose includes Integrated Goods and Services Tax, Central Goods and Services Tax, State Goods and Services Tax and Union Territory Goods and Services Tax; Refers to earlier circular No. 1 of 2004 which gave similar clarification regarding 'service tax' component comprised in the amount payable to a resident; Noting that rationale for excluding tax component from purview of TDS remains valid even in context of GST, clarifies that for the purpose of this circular, "any reference to 'service tax' in an existing agreement or contract which was entered  prior to July 1, 2017 shall be treated as 'GST on services' with respect to period from 01.07.2017 onward  till the expiry of such agreement or contract"

Click here to read and download CBDT Circular No. 23 of 2017. Post Comment

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Thanks

Warm regards

Lalchand Meghwal

Senior Manager (B. D.)

Realtime Taxsutra Servies Pvt. Ltd.

H.P. 09895289801 

E-mail : lalchand.meghwal@taxsutra.com