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TMI BlogGuidelines for Deductions and Deposits of TDS by the DDO under Meghalaya Goods and Services Tax (MGST) Act, 2017.X X X X Extracts X X X X X X X X Extracts X X X X ..... of taxable goods or services or both, where the total value of such supply, under a contract, exceeds two lakh and fifty thousand rupees. The amount deducted as tax under this section shall be paid to the Government by deductor within ten days after the end of the month in which such deduction is made alongwith a return in FORM GSTR-7 giving the details of deductions and deductees. Further, the deductor has to issue a certificate to the deductee mentioning therein the contract value, rate of deduction, amount deducted etc. 2. As per the Act, every deductor shall deduct the tax amount from the payment made to the supplier of goods or services or both and deposit the tax amount so deducted with the Government account through NEFT/RTGS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... made on a weekly, monthly or any other periodic basis. 6. Following process shall be followed by the DDO in this regard: (i) The DDO shall prepare the Bill based on the Expenditure Sanction. The Expenditure Sanction shall contain the (a) Total amount, (b) net amount payable to the Contractor/Supplier/Vendor and (c) the 2% TDS amount of GST for submission to the respective payment authorities. (ii) In the Bill, it will be specified (a) the net amount payable to the Contractor; and (b) 2% as TDS (iii) The TDS amount shall be mentioned in the Bill for booking in the Suspense Head [8658 Suspense; 00.101 - PAO Suspense, 08 - GST (8658-00-101-08-00)] (iv) For any Bill(s) where GST -TDS is applicable, the DDO will have to at ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... prepare the bill for the bunched TDS amount for payment through the concerned payment authority. In the Bill, the DDO will give reference of all the earlier paid bills from which 2% TDS was deducted and kept in the suspense head. The DDO may also attach a certified copy (Transfer Treasury Challan if applicable) of the record maintained by him in this regard. (xi) The payment authority will pass the bill by clearing the Suspense Head operated against that particular DDO after exercising necessary checks (Not applicable to DDOs where the bill is not routed through the Treasury). (xii) In case of NEFT/RTGS mode, the DDO will have to mention the CPIN Number (as beneficiary's account number), RBI (as beneficiary) and the IFSC Code of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... illing of GSTR-7 Sl.No. GSTIN of the Deductee Trade Name Amount paid to the Deductee on which tax is deducted Integrated Tax Central Tax State/UT Tax Total ..... X X X X Extracts X X X X X X X X Extracts X X X X
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