Deadline for TDS returns filling for Oct-Dec extended to Jan 2019

69

Centre has extended the last date for filing Tax Deducted at Source (TDS) returns under Goods and Services Tax laws for the October-December period till January 31, 2019.

GSTThe TDS provisions under the GST regime had come into effect from October 1, 2018.

As stated by the Central GST (CGST) Act, the notified bodies are mandated to collect TDS at 1 percent on payments made for goods or services suppliers in excess of Rs 2.5 lakh. Also, states levy 1 percent TDS under state laws.

The due date for filing the TDS returns under GST for October-December 2018 period, has been extended by the Union Finance Ministry till January 31, 2019.

Under the GST regime, there are three kinds of taxes. – CGST, SGST and IGST. In addition, as per the GST law, certain categories of registered persons will be required to deduct taxes while making payments to supplier i.e TDS and deposit it with the government.

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the BFSI industry. Join Us for 3rd Elets BFSI Leadership Summit, Mumbai and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.