Procurement of rental services for office vehicles can be made from an unregistered service provider on production of a self-declaration to the effect that the aggregate turnover of the supplier does not exceed twenty lakh rupees.
Goods and Services Tax (GST)
Goods and Services Tax (GST) is an indirect tax applicable throughout India which replaced multiple cascading taxes levied by the central and state governments.
Deduction and Deposit of TDS on GST by the DDO
For payment process of Tax Deduction at Source under GST, DDO may deduct as well as deposit the GST TDS for each bill/Invoice individually by generating a CPIN and mentioning it in the Bill itself.
Compulsory Registration under GST as Tax Deductor
DDOs after obtaining the GSTIN as Deductor from GSTN shall enter the GSTIN in the Master Maintenance link of e-Billing of IFMS. The whole process should necessarily be completed before 30.09.2018 positively.
Manual Refund Procedure of SGST
Till the process of automated refund of SGST is introduced the manual procedure for refund of SGST shall be followed.
Reduced GST on Marble, Granite, Plywood, Tiles, Glass etc.
Rate of tax on goods like Marble, Granite, Plywood, Ceramic flooring blocks, Glass, Electrical panel boards etc. have been reduced from 28% to 18% w.e.f. 15.11.2017.
Opening Heads of Account for accounting of GST
Open the following Heads of Account in the Receipt Side of Consolidated Fund and the Public Account for accounting of the GST.
Input Tax Credit under GST to Vendor/ Contractor
Exclusive contract for supply of goods where the vendor on purchase of those goods was eligible for any conditional exemption from duty of Central Excise.