Welcome to your Ch 31: TDS and TCS (1 to 5)
1. Which of the following are not required to deduct tax at source u/s 51-
2. Examine the following statements in the light of section 51-
(i) Every department of Ministry of Defence is required to deduct tax at source u/s 51 of CGST Act, 2017.
(ii) PSU supplying goods or services to another PSU is required to deduct tax at source u/s 51 of CGST Act, 2017.
3. Examine the following statements in the light of section 51-
(i) Rate of TDS in case of inter state supply is maximum 2%.
(ii) As per section 51 there is requirement to deduct tax at source if value of taxable supply under a contract is atleast ₹ 2,50,000.
4. Examine the following statements in the light of section 51-
(i) Value of taxable supply of goods under a contract is ₹ 2,95,000 including GST 18%. Tax shall be deducted assuming all other conditions of section 51 is satisfied.
(ii) Tax deducted at source shall be credited in electronic credit ledger.
5. Examine the following statements in the light of section 51-
(i) Credit of TDS can be used for payment of late fees.
(ii) Tax deductor shall file GSTR 7 by 10th of every month.
