Gst

assignment II
Submitted by: submitted to:

Mansi saini Mrs. Mehak Thakral

B.B.A VI sem

Question 1: Enumeration the provision related to TDS and

TCS under GST.
Answer: The applicability of TDS and TCS provision w.e.f October
1,2018 after getting defferd till September 30,2018, the central government
vide notification no. 50/2018-central tax dated September 13,2018 and
notification no. 51/2018- central tax dated September 13, 2018 has
appointed the 1st day of October 2018,

TDS is a mechanism in the GST law where the recipient of good and
service deducts out some amount for tax out of the amount payable to the
supplier . this amount of TDS is determined on the basis 2% of value of
supply.

The good and service belong to other supplier are displayed on the portals
of operators and consumer buy such goods and services through these
portals . The TCS is similarities with TDS as well as a few distinctive
features TCS refers to the tax which is collected by the electronic
commerce operators when a supplier supply some good or service through
its portals and the payment for that supply is collected under section 52 of
the CGST act 2017,

The TCS is to be deducted at the rate of (.5% CGST +.5%SGST)1% of the

net value of taxable supplies of the good and service supplied through the
portals of the operators . the operators is required to furnish a monthly
statement in form GSTR-8 by the10th of the following month.

Whereas the TDS rate is 2%(IGST2%,or CGST1%+SGST1%). . due date

of payment of TDS 10th of succeeding month.

Question 2: What do you mean by jobwork under GST?

explain its benefits and restrictions.
Answer: Under section 2(68) of CGST act,”jobwork means any
treatment or process under taken by a person on goods belonging
to another registered person.”
The term “jobwork” is confined to the process undertaken by the
job worker on movable good only.
Benefits and restrictions :
1) Input tax credit on input and capital goods sent for jobwork
a) Principal shall be entitled for input tax credit on inputs and
capitals goods sent to a jobworker for jobwork. It is not
necessary that inputs and capitals goods must first be
received at the premises of the principal
b) The input/capital goods are sent directly to the jobworker ,
then the aforesaid period shall b counted from the date of
the receipt. These provision are not applicable to supply of
moulds and dies , jigs and fixtures or tools toa jobworker for
job work.
2) Special procedure for removal of goods
A registered person may sent any input /capital goods
without payment of tax , to a jobworker for jobwork and many
from these subsequently send to another jobworker.
The principal shall be responsible and accountable for all
transactions b/w him and jobworker . if the benefits is availed
3) Conditions in relation to inputs
Within in 1 year of their being sent out the inputs , the
principal shall be:
Bring back inputs, after payment of tax , or export these
inputs with or without payment of tax
If inputs are not so received back or supplied ,it shall be
deemed that such inputs has been supplied by the principal
to the jobworker on the day when the said inputs were sent
out.
4) conditions in relation to capital goods
within 3 years of their being sent out the capital goods , yhe
principal bring back these goods , to any of his place or
 business ,or supply this goods , after payment of tax or
export these goods with or without payment of tax,
5) supply of goods by the principal from the place of jobwork
goods may be supplied directly from the place of business
of jobwork by the principal only when the principal declares
place of business of the jobworker as his additional place of
business , except where , the jobworker is registered in
supply of notified goods.
6) Supply of waste and scrap
Any waste and scrap is generated during the jobwork may be
supplied either, by the jobworker directly from his place of
business on payment of tax if such jobworker is registered, or
by the principla , if the jobworker is not registered.