GSTR – 8
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Meaning of GSTR-8
- GSTR-8 is a GST return filed by all GST registered e-commerce operators for the collection of TCS.
- GSTR-8 filing comprises of details like amount of tax collected at source from e-commerce sellers and their GSTIN. E-commerce sellers are provided by the information given by all e-commerce companies in their GSTR-8 through GSTR-2 filing. Therefore, on 15th of each month, while filing GSTR-2, all e-commerce sellers must verify the transaction and TCS information supplied by the e-commerce company on the GST platform.
- GST norms have a clear-cut definition of e-commerce companies which is defined as any individual who has access in terms of ownership, operation or management of a digital or electronic service provided for an electronic commerce. GST registration and TCS registration is mandatory for E-commerce companies
What is TCS Mechanism ?
- Tax Collection at Source (TCS) is a tax collection mechanism similar to TDS, wherein an e-commerce operator collects and remits tax on behalf of the Government when a supplier supplies goods or services through its portal. For example, if a product is sold for Rs.10,000 on an e-commerce platform (say Amazon or Flipkart), the e-commerce platform would be required to deduct form supplier (say the seller on Amazon or Flipkart) and remit Rs.100 as TCS to the Government.
- TCS provisions are applicable to e-commerce operators. So, any person who owns, operates or manages a digital or electronic facility or platform for electronic commerce is required to register for TCS and file GSTR-8. E-commerce sellers are not bound with GST TCS provisions.
- TCS tax obtained from an e-commerce operator should be deposited by the 10th of the next month.
Tax Credit for TCS Payment
Yes, input tax credit has to be deducted from an e-commerce operator for the payment of TCS. Right after GSTR-8 filing, tax collected from an e-commerce operator should get credited the cash ledger of the supplier of goods/services which is usually an e-commerce seller. The claim can be made after this by the supplier for the TCS by the e-commerce operator.
Frequency & Details of filing GSTR-8
- GSTR- 8 is to be filed on monthly basis.
- The due date of GSTR-8 filing is 10th of each month for all the e-commerce operators registered for TCS.
- GSTR-8 once filed, cannot be revised. Rectification of the mistakes can be done in the return filing of the next month.