GSTR – 8
GSTR-8 is a return to be filed by the e-commerce operators who are required to deduct TCS (Tax collected at source) under GST. GSTR-8 contains the details of supplies effected through an e-commerce platform and the amount of TCS collected on such supplies.
GSTR-8 shows the details of supplies effected through the e-commerce platform and the amount of TCS collected on such supplies. For TCS the supplier can take the input credit of such TCS deducted by the e-commerce operator after filing of GSTR-8 by the e-commerce operator. The amount of such TCS will be reflected in Part C of Form GSTR-2A of the supplier.
For Example, XYZ & Co. supplies garments worth INR 30,000.00 through Myntra. Now Myntra being the e-commerce operator will deduct the TCS @ 1% and deposit INR 300.00 with the Government. The amount of INR 300.00 will get reflected in GSTR-2A of XYZ & Co. after filing of GSTR-8 by Myntra.
Who is an e-commerce operator?
Every person who owns operates or manages the digital or electronic facility or platform for electronic commerce is known as Electronic commerce operator. On the other hand, the sale of the company’s products through its website would not be classified as an e-commerce activity. The basic functions of an E-commerce operator are:
- To display the available products and services on the website.
- Arrange for dispatch through any of the vendors.
- Post the successful supply by the vendors, the ECO proceeds to settle the payment of the vendor on a periodical basis.
Who is required to file GSTR – 8
Every e-commerce operator who is registered under GST is required to file GSTR-8.
Due Date to file GSTR-8
GSTR-8 filing for a month is due on 10th of the following month. For instance, the due date for GSTR-8 for February is on the 10th of March.
Details to be provided in GSTR-8
GSTR-8 has a total of 9 sections:
1. Provide GSTIN
- Legal name of the registered person: The name of the taxpayer will get auto-populated.
- Details of supplies made through e-commerce operator: The gross value of supplies made and value of supplies returned needs to be entered. The amount liable for TCS is the difference between the supplies made and supplies returned.
- Amendments to details of supplies in respect of an earlier statement: This section is for any correction to data submitted in the return of previous months.
- Details of interest: The Interest will be levied if the amount of TCS is not paid on time by the e-commerce operator.
- Tax payable and paid: This section shows the total amount of tax payable under each head and how much tax has been paid till date.
- Interest: Interest @ 18% is levied for the late payment of GST.
- Refund from Electronic Cash Ledger: Refund is allowed when all the TCS liability for that tax period has been discharged.
9. Debit entries in cash ledger for TCS/interest payment: Amount of tax collected at source will flow to Part C of GSTR-2A of the taxpayer on filing of GSTR-8.