GST Due Date Extended

Central board excise and custom has extended the due date for furnishing of FORM GSTR – 7 for the months of October, 2018 to December, 2018 till 28.02.2019.

Under GST law GSTR-7 is filled by a taxpayer who is required to deduced TDS .

Who are required to deduct TDS under GST?

As per GST law following person required to deduct TDS.

• A department or establishment of the Central or State Government, or
• Local authority, or
• Governmental agencies, or
• Persons or category of persons as may be notified, by the Central or a State Government on the recommendations of the Council.

As per Notification No. 33/2017 – Central Tax, 15th September 2017

The following entities also need to deduct TDS-

1. An authority or a board or any other body which has been set up by Parliament or a State Legislature or  by a government, with 51% equity ( control) owned by government
2. A society established by the Central or any State Government or a Local Authority and the society is registered under the Societies Registration Act, 1860
3. Public sector undertakings

The above deductor are required to TDS where the total value of supply under the contract exceeds Rs 2.5 Lakhs. The rate for TDS is 2% (CGST 1% + SGST 1%) in case of intra state supply and 2 % (IGST) in case of interstate supplies.

However, the TDS will not be deducted when the location of the supplier and place of supply is different from the registration place (State) of the recipient.