GSTR – 8
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Meaning of GSTR-8
- GSTR-8 is a type of GST return that must be filed by all e-commerce operators registered under GST for collection of TCS.
- GSTR-8 filing comprises of details like amount of tax collected at source from e-commerce sellers and their GSTIN. The information provided by e-commerce companies on GSTR-8 is made available to e-commerce sellers on their 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.
- Under GST, e-commerce companies have been defined as any person who owns, operates or manages a digital or electronic facility or platform for electronic commerce. E-commerce companies are required to obtain GST registration mandatorily and also be registered for tax collection at source (TCS).
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 for 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. GST TCS provisions are not applicable for e-commerce sellers.
- The amount of tax collected by an e-commerce operator as TCS must be deposited by the 10th of the following month.
Tax Credit for TCS Payment
Yes, input tax credit is provided for TCS payment deducted by an e-commerce operator. After the filing of GSTR-8 filing, the tax collected by the e-commerce operator is credited to the cash ledger of the e-commerce seller who supplied the goods/services. The supplier can then claim credit for the tax collected at source by the e-commerce operator./p>
Frequency & Details of filing GSTR-8
- GSTR- 8 is to be filed on monthly basis.
- GSTR-8 filing is due on the 10th of each month for e-commerce operators registered for tax collection at source.
- GSTR-8 once filed, cannot be revised. Any mistake made in the return can be revised in the next month’s return.