Tax Deduction at Source and Direct Tax Turnover Approach

Posted on 11 June 2022 Category : GST terms difference

How to differentiate Direct Tax Turnover Approach with Tax Deduction at Source?

What is Direct Tax Turnover Approach? How does Tax Deduction at Source work under GST regime? What are the difference between Direct Tax Turnover Approach and Tax Deduction at Source?

Under GST system, the following information explains about Direct Tax Turnover Approach and Tax Deduction at Source.

As per GST terms, Direct Tax Turnover Approach means a third approach—which was described in the Thirteenth Finance Commission--is based on using income tax data which are available for about 94.3 lakh registered entities (including companies, partnerships, and proprietorships but not charitable organizations). Tax Deduction at Source (TDS) is a system, initially introduced by the Income Tax Department. It is one of the modes/methods to collect tax, under which, certain percentage of amount is deducted by a recipient at the time of making payment to the supplier.

The details about Direct Tax Turnover Approach and Tax Deduction at Source with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on Direct Tax Turnover Approach and Tax Deduction at Source, so as to enable you to have a clear idea on these GST terms.

For your immediate reference, we give below web links on Direct Tax Turnover Approach and Tax Deduction at Source separately below. You may kindly read the below links to know more about Tax Deduction at Source and Direct Tax Turnover Approach.

What is Direct Tax Turnover Approach under GST

What is Tax Deduction at Source (TDS) under GST

The above information easily explains about Tax Deduction at Source and Direct Tax Turnover Approach.

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CGST Act section 75 General provisions relating to determination of tax

CGST Act section 76 Tax collected but not paid to Government

CGST Act section 77 Tax wrongfully collected and paid to Central Government or State Government

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