Difference between Tax Deductor and Accumulated credit under GST terms
What is Accumulated credit? How does Tax Deductor work under GST regime? What are the difference between Accumulated credit and Tax Deductor?
Under GST system, the following information explains about Accumulated credit and Tax Deductor.
As per GST terms, Accumulated credit means credit availed on inputs, input services and capital goods to extent attributed to dutiable goods or taxable services/exported goods+ exported services, availed in excise/service tax returns and not utilized but C/F as closing balance in return filed in pre-GST. Tax Deductor means the person responsible for making the payment to vendor for the supplies obtained for.
The details about Accumulated credit and Tax Deductor with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on Accumulated credit and Tax Deductor, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on Accumulated credit and Tax Deductor separately below. You may kindly read the below links to know more about Tax Deductor and Accumulated credit.
Accumulated credit to GST means
Tax Deductor under GST
The above information easily explains about Tax Deductor and Accumulated credit.
We hope, you have satisfied with the difference between Accumulated credit and Tax Deductor explained above. Do you have different thought on difference between Tax Deductor and Accumulated credit?
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CGST Act Section 78 Initiation of recovery proceedings
CGST Act section 79 Recovery of tax
CGST Act Section 80 Payment of tax and other amount in instalments
CGST Act section 81 Transfer of property to be void in certain cases
CGST Act Section 82 Tax to be first charge on property
CGST Act section 83 Provisional attachment to protect revenue in certain cases
CGST Act Section 84 Continuation and validation of certain recovery proceedings
CGST Act Section 85 Liability in case of transfer of business
CGST Act section 86 Liability of agent and principal
CGST Act Section 87 Liability in case of amalgamation or merger of companies
CGST Act section 88 Liability in case of company in liquidation
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