Now TDS/TCS for GST also, provisions to come into effect from October 1

Now TDS/TCS for GST also, provisions to come into effect from October 1

The government has notified October 1 as the date for implementing the tax deducted at source (TDS) and tax collected at source (TCS) provisions under GST law. As per 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…