GST and TDS

Working out GST and TDS, challans, returns and deadlines. Part of Margin Books.

• How does Margin work out GST and TDS?Books → Compliance works out GSTR-1 and GSTR-3B for each month, and TDS returns 26Q and 24Q for each quarter, from your books: GST from the sales invoices and credit notes you issue in Margin, your bills and GSTR-2B.
• Does Margin remind us of deadlines?Yes. Finance home shows the next one, and the statutory calendar holds them all: TDS deposit on the 7th, GSTR-1 on the 11th, PF and ESI on the 15th, GSTR-3B on the 20th, professional tax on the 28th, and advance tax each quarter.
• How do I check our input credit against GSTR-2B?In Compliance → GSTR-2B, upload the GSTR-2B file from the GST portal.
• How is TDS on vendor bills worked out?Each bill can carry a TDS section and rate (such as 194C, 194J or 194I), and each vendor a default one.
• How do I record a TDS challan?In Compliance → TDS challans, record each challan (period, section, amount and CIN) and allocate the deductions it paid.
• How do I prepare a TDS return?In Compliance → TDS returns, choose the company, the form (26Q for vendors, 24Q for salaries), the assessment year and the quarter, and click Generate.
• What is Expiring docs?Vendor documents, such as contracts or certificates, that expire in the next 30 days to a year, so you renew them in time.