GST-TDS Deduction and Deposit Guidelines – Key Highlights from Circular No. 67/41/2018-DOR
<h4><strong>Key Modifications in the Circular</strong></h4><ol><li><strong>Changes to TDS Accounting for DDOs</strong><ul><li>The circular <strong>modifies Para 9(iv) of the previous guidelines</strong>, enabling DDOs to <strong>bunch together TDS deductions</strong> under <strong>GST-TDS</strong> when making deposits.</li><li>A new <strong>sub-head (08-GST TDS)</strong> has been <strong>opened under the Head 8658.00.101-PAO Suspense</strong> to facilitate <strong>better accounting of TDS transactions</strong>.</li></ul></li><li><strong>Updated TDS Sub-Head and Accounting Code</strong><ul><li><p>The <strong>new accounting details</strong> introduced for <strong>GST-TDS deposits</strong> are as follows:</p><figure class="table"><table><thead><tr><th><strong>Major Head</strong></th><th><strong>Sub Head</strong></th><th><strong>Description</strong></th><th><strong>Major Head Serial Code</strong></th><th><strong>SCCD Code</strong></th></tr></thead><tbody><tr><td>8658-00-101</td><td>08-GST TDS</td><td>TDS under GST</td><td>86580344</td><td>367</td></tr></tbody></table></figure></li></ul></li><li><strong>Objective of the Modification</strong><ul><li>The change ensures that <strong>DDOs can efficiently manage and report GST-TDS deductions</strong> while <strong>complying with standardized government accounting codes</strong>.</li></ul></li><li><strong>Reporting Issues</strong><ul><li><p>Any <strong>difficulties in implementing this circular</strong> can be reported to the <strong>Department of Revenue</strong>.</p><p><a href="https://cms.plasament.com/storage/shubham-pathak/circular-no-67.pdf">circular-no-67</a><br> </p></li></ul></li></ol>