What is tds, gst billing

Question

Accepted Answer

TDS is Tax Deducted at Source and GST billing is the process of invoicing for goods and services with the inclusion of GST.

TDS is a tax collected by the government at the source of income.
It is deducted from the payment made to the recipient.
TDS is applicable to various types of income such as salary, interest, rent, etc.
GST billing is the process of invoicing for goods and services with the inclusion of GST.
GST is a value-added tax levied on the supply of goods and services.
It is collected by the seller and paid to the government.
GST billing includes the GST amount charged on the goods or services provided.
It is mandatory for businesses with an annual turnover of more than Rs. 20 lakhs to register for GST.

Accepted Answer

TDS not mentioned in sales bill, when we pay supplier or professional fees, rent, commission then we deduct TDS

GST bill clear shown which tax we deduct & proper prapotionate because GST r different types 5, 12, 18, 24 %. Depend upon product, when we purchase & sale set off GST amt

Accepted Answer

TDS means Tax deducted at source like professional fees, Rent, commission etc as per limit we deduct TDs when We file return & claim TDS we got out deduct TDS so prevent black money

GST are service Tax paid to govt without hide central & State both paid same %

What is tds, gst billing

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