Quick Answer: How To Claim Gst Tds Credit In Gstr 3b?


What is TDS credit received in GST?

TDS /TCS credit received is a facility which is provided to all such taxpayers from whom tax is either deducted or collected at source by the respectively registered TDS deductor or TCS collector. Now, after deduction or collection, the deductor or collector is supposed to file the GSTR-7 form.

How do I claim TCS refund from GST?

What is the procedure to claim this TCS as refund? Answer: GST TCS can be claimed by filing TDS / TCS Return under GST Portal. After logging in to the GST account in GST Portal (www. gst.gov.in), under Services è Returns è TDS and TCS credit received, after selecting year and month, this return can be filed.

How do I claim GST refund in India?

Any taxpayer can claim a refund of any tax, interest, penalty, fees or any other amount paid by him by filing an application electronically in FORM GST RFD-01 through the GST Common Portal or through a GST Facilitation Centre.

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How can I check my TDS amount in GST portal?

Viewing Form GSTR-7A

  1. Step 1: Login to the Portal.
  2. Step 2: Enter the Details.
  3. Step 3: Click View / Download Certificates.
  4. Step 4: Click TDS Certificate.
  5. Step 5: Select Financial Year and Return Filing Period.
  6. Step 6: Enter the GSTIN.
  7. Step 7: Click Search.
  8. Step 8: Click Download.

What is difference between TDS and GST?

GST is a type of indirect tax to be paid to deductor whereas TDS is a type of direct tax to be levied upon deductee. GST has to be paid whether the deductee made a profit or loss whereas TDS is only to be paid when there is a sustainable profit in the business transaction.

How can I claim TDS amount?

You just need to visit the income tax portal and login to download the relevant form for an income tax refund. Enter all the particulars and submit the form. If the employer has deducted tax when you are not eligible for it, you can claim the amount by filing income tax returns (ITR).

Is GST charged on TCS?

The e-commerce operators liable to collect TCS have to compulsorily register under GST and there is no threshold limit exemption for it. In all three cases, the e-commerce operator shall pay GST, meet the compliances.

On which amount TCS is calculated?

For example: If TCS base amount was 10,000.00 in advance payment and line amount is 20,000.00 on sales invoice, then TCS will be calculated on 10,000.00 on sales invoice. TCS is calculated after adjusting the TCS amount which was earlier calculated on advance payment.

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How do I claim my GST refund?

The balance in Electronic Cash Ledger can be claimed as a refund by submitting a refund application form RFD-01. This can be done online on the GST Portal/GSTN The excess GST paid can be claimed as a refund within two years from the date of payment.

How much GST refund will I get?

For the 2020 base year (payment period from July 2021 to June 2022), you could get up to: $456 if you are single. $598 if you are married or have a common-law partner. $157 for each child under the age of 19.

Who is eligible for GST refund?

you are at least 19 years old. you have (or had) a spouse or common-law partner. you are (or were) a parent and live (or lived) with your child.

What is the time limit for GST refund?

The time limit for claiming the refund is 2 years from the date of payment.

What is TDS full name?

Tax Deducted at Source ( TDS )

Is TDS deductible on GST amount?

For the purpose of deduction of TDS, the value of supply is to be taken as the amount excluding the tax indicated on the invoice. This means TDS shall not be deducted on the CGST, SGST or IGST component of invoice. So it can be said that TDS is not deducted on the tax element ( GST ) of a transaction.

What is TDS & TCS in GST?

TDS and TCS under GST is an acronym for tax deduction at source and tax collection at source. These terms are even present under the Income Tax law. TDS and TCS under GST came into effect from 1st October 2018.

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