The provision of tax deduction at source and tax collection at source has been deferred for now with the objective of ensuring smooth rollout of GST and taking into account the feedback received from the trade and industry regarding the provisions. The new date for its implementation will be revealed later, said the ministry in a statement.
It has also been decided that persons who will be liable to deduct or collect tax at source will be required to take registration, but the liability to deduct or collect tax will arise from the date the respective sections are brought in force.
The decision to defer the provision has been taken by the ministry to provide more time for persons liable to deduct tax at source/e-commerce companies and their suppliers to prepare for the historic tax reform. (KD)
ALCHEMPro News Desk – India
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