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Query Answer
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In contarct bill gst is deducted by 2% and we are as a contractor usually file return by mentioning gst rate 12% , so now how to file return, i mean whether we have to  deduct 2% from such 12% while filing return?

Reply

The 2% rate is for TDS under GST, As per section 51 of CGST Act, 2017, TDS is to be deducted by government authorities or such persons or category of persons as may be notified by the Government at the rate of 2 percent on payments made to the supplier of taxable goods and/or services, where the total value of such supply, under an individual contract, exceeds two lakh fifty thousand rupees.

Further for the purpose of deduction of TDS, the value of supply is to be taken as the amount excluding the tax indicated on the invoice. This means TDS shall not be deducted on the CGST, SGST or IGST component of invoice.

As the invoice raised by supplier of construction service contains only the value of construction service and the amount of GST@12%, in the GST return also he has to disclose only these values, TDS amount has no relevancy in return of deductee.

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