[Video] Penalty for not issuing GST TDS Certificates : GST News 495

By | September 15, 2018
(Last Updated On: September 15, 2018)

Penalty for not issuing GST TDS Certificates : GST News 495

Video Lecture by CA Satbir Singh on Penalty for not issuing GST TDS certificate.

Do we require to issue TDS Certificate under GST ? What is the penalty for default ?

Section 51(3) of CGST Act 2017

The deductor shall furnish to the deductee a certificate mentioning therein the contract value, rate of deduction, amount deducted, amount paid to the Government and such other particulars in such manner as may be prescribed.

Rule 66(3) of CGST Rules 2017

The certificate referred to in sub-section (3) of section 51 shall be made available electronically to the deductee on the common portal in FORM GSTR-7A on the basis of the return furnished under sub-rule (1).

Comment : TDS Certificate in Form GSTR-07A will be downloadable from the portal by supplier after accepting the transactions uploaded by deductor.

Is there any penalty for any default in issuing TDS Certificate?

Section 51(4) of CGST Act 2017

If any deductor fails to furnish to the deductee the certificate, after deducting the tax at source, within five days of crediting the amount so deducted to the Government, the deductor shall pay, by way of a late fee, a sum of one hundred rupees per day from the day after the expiry of such five days period until the failure is rectified, subject to a maximum amount of five thousand rupees.


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