New Delhi [India], Mar. 10 (ANI): The provisions for deduction of tax at source (TDS) under section 51 and collection of tax at source (TCS) under section 52 of the Central Goods and Services Tax (CGST) Act will remain suspended till June 30, the GST Council said on Saturday.
In its 26th meeting, the council stated that in the meantime, the modalities of linking state and central government accounting systems with the GST Network (GSTN) will be worked out so that seamless credit is available to the registered traders whose tax is deducted or collected at source.
Among other suggestions, the council noted that the present system of filing of GSTR 3B and GSTR 1 would be extended for another three months, that is, April to June, till the new returns system is finalised.
The council also confirmed that a new model was being discussed extensively, and a group of ministers on IT was tasked to finalise the same.
The liability to pay tax on the reverse charge basis, the council said, has been deferred till June 30. In the meantime, a group of ministers has been assigned to look into the modalities of its implementation to ensure that no inconvenience is caused to the trade and industry.