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TDS & GST Compliance Simplified

📑 5 slides 👁 34 views 📅 3/18/2026
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Why Compliance Matters

Non-compliance can lead to heavy penalties (up to 100% of tax due)

Why Compliance Matters
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TDS Basics

  • TDS = Tax Deducted at Source (applies to payments > ₹30k)
  • Common sections: 194C (contractors), 194J (professionals)
  • Deduct at payment time or invoice due date (whichever is earlier)
  • Department heads must verify TDS applicability before approvals
TDS Basics
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GST Essentials

  • Input Tax Credit (ITC) requires valid tax invoices
  • Invoice must show GSTIN, HSN code, and payment details
  • ITC claims allowed only within next financial year
  • Missing invoices cost companies 18% extra on purchases
GST Essentials
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Critical Timelines

  • TDS deposit: By 7th of next month (e.g., April TDS by May 7)
  • GSTR-3B filing: 20th monthly (22nd for quarterly filers)
  • Late fees: ₹50/day (max ₹5k) for GST, 1.5% monthly interest for TDS
  • Example: ₹1L payment with 30-day delay = ₹1,500 penalty
Critical Timelines
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Key Takeaways

  • Always check TDS applicability before payment processing
  • Validate GST invoices within 30 days to claim ITC
  • Department heads share compliance responsibility
  • Set reminders for monthly/quarterly filing deadlines
Key Takeaways
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