Three days training programme/workshop (w.e.f 21.8. 2024 to 23.8.2024) on GST norms including TDS provisions under GST and Income Tax was organized for officers and officials of all Cooperative Banks of Himachal Pradesh at Agricultural Co-operative Staff Training Institute of the H.P, State Cooperative Bank Ltd, Sangati Summer Hill Shimla. In the 3 days session attended by 30 participants from different banks, overview of GST and various provisions of GST including TDS under GST was discussed in detail, for the awareness of all stake holders, by Poonam Thakur, Assistant Commissioner State Taxes & Excise presently posted in Economic Intelligence Unit HQ Shimla.
Various topics that were primarily taken for discussion included Registration, amendments and cancellation of GSTIN & legal provisions thereof, Return filing compliance, Input tax credit and its matching, meaning and scope of supply of goods and services (intra state, interstate supply), Constitutional provisions, Taxable event, Taxable & exempt supply specifically in case of banks, Concurrent & dual model of GST, IGST Model, Composition scheme, Reverse charge mechanism, various services provided by banks, payment module, different types of documents valid under GST like invoice, bill of supply and delivery challan, E-way bill, maintenance of proper record under GST, what is TDS, who is liable to deduct TDS under GST, rate of TDS under GST, Cases when TDS is deducted, TDS return, penalties for not complying with TDS provisions under GST.
Poonam Thakur conveyed to all the participants that Section 51 of HPGST Act, 2017 deals with Tax deduction at source and elaborates that notwithstanding anything to the contrary contained in this Act, the Government may mandate, a department or establishment of the Central Government or State Government; or local authority; or Governmental agencies; or such persons or category of persons as may be notified by the Government on the recommendations of the Council, to deduct tax at the rate of one percent, from the payment made or credited to the supplier of taxable goods or services or both, where the total value of such supply, under a contract, exceeds two lakh and fifty thousand rupees:
Provided that no deduction shall be made if the location of the supplier and the place of supply is in a State or Union territory which is different from the State or as the case may be, Union Territory of registration of the recipient.
Notification that added the notified entities for deducting TDS was also discussed and they were apprised that all notified person for TDS deduction are mandatorily required to take registration under GST irrespective of turnover. They were briefed about all the compliances that are required to be done by DDOs including return filing in form GSTR7 and issuance of certificate in form GSTR7A. And in case of failure to comply the same, provisions of late fee, interest and penalty getting invoked were also apprised. All the queries of stake holders were taken up and addressed satisfactorily.
A special session was conducted whereby case studies were done on various issues of GST and stakeholders were told how to evaluate taxable supply and what is invoice value. All relevant notifications and circulars were shared and set operating procedures to be adopted by DDOs were also discussed in detail whereby creating of challan and making payment was also shown through the GST portal.
Stakeholders were sensitized. All stakeholders had value addition from this three days elaborate session on GST that was supplemented with their handholding also.
