TDS or TCS credit need to first accept or reject before filing GSTR3B

TDS or TCS credit need to first accept or reject before filing GSTR3B While Filing GSTR 3B for October 2018, be cautious to check your TDS &

CA Deepak Gupta

Nov 17, 2018

Last update on Nov 17, 2018

TDS or TCS credit need to first accept or reject before filing GSTR3B 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 accurately. Any loss is cash loss for the tax dealer & will be tough to reclaim back.

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CA Deepak Gupta

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CA Deepak Gupta,is Co-founder of Studycafe. He is Microsoft Office Specialist and Corporate Trainer of AI Tools, Microsoft Excel. He is Finance Influencer having more than 250K followers on Social Media. CA Deepak Gupta, is Having more than 14 plus years of experience, and he has Worked with best brands Like, Hero, Wipro, Ericsson before Starting Studycafe. He has Trained more than 20000 Persons in Microsoft Excel, PowerPoint, Power BI, Google Sheet, Google Forms and Other Tools.