GST: How to define revised TDS/TCS rates as per the latest declaration by Govt. of India
(Doc ID 2670625.1)
Last updated on JUNE 07, 2021
Applies to:Oracle Financials for India - Version 12.1.1 and later
Information in this document applies to any platform.
As per the recent announcement by Government of India, the TDS Rates for non-salaries specified payments made and TCS Rates for the specified receipts shall be reduced by 25 percent of the existing rates.
In other words, TDS for specified payments and TCS for specified rates need to be deducted/collected at a revised rate which is 25% lower than the existing rates.
How to define revised TDS/TCS rates as per the above requirement ?
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