New caution to be taken care of while filing GSTR 3B for the month of Oct 18

Home Forums GST New caution to be taken care of while filing GSTR 3B for the month of Oct 18

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    Pratibha Goyal
    Participant
    Appointment of Auditors under Companies Act 2013

    Taxpayers having TDS or TCS credit need to first accept or reject the same before filing 3B.

    Click here to know the detailed procedure on how to accept or Reject TDS Credit.

    While Filing GSTR 3B for October 2018, be cautious to check your TDS & TCS credit in GSTN portal

    1. TDS – Deducted by Govt, Semi Govt or Public Sector undertakings -while making payment for your goods & services

    2. TCS – Deducted by E-commerce companies- while making payments to its online sellers for supply made.

    The TDS & TCS is seperate TAB in GSTN website under “Returns” heading , which needs to reconciled on month on month basis (From Oct 2018 onwards) , accepted formally on portal & Filed with DSC (EVC for proprietors & dealers) seperately.

    Once we file this, the TDS & TCS Credit will reflect in our Electronic Cash ledger & can be used to pay off our Outward tax liability.

    Its a cash for the dealers & needs to be reconciled accuartely. Any loss is cash loss for the tax dealer & will be tough to reclaim back.

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