All About GSTR-8 Return Filing

GSTR-8 is the monthly return that e-commerce operators who have registered for GST must file. This post will explain the importance, classification, and filing requirements for GSTR-8 to make the process easier for you. A GSTR-8 return is filed by e-commerce managers who are needed to withdraw the Tax Collected at Source or TCS under the GST. The GSTR-8 return contains information about the supplies that were impacted by the e-commerce platform, as well as the amount of tax collected at the source of those goods. Keep reading this blog.

What is GSTR-8 Return?

Every e-commerce manager who has registered for GST is required to file the GSTR-8. According to the GST Act, an e-commerce manager is someone who manages or keeps any electronic, digital, or other commerce-based gadgets, such as Amazon facilities. It is critical for all e-commerce administrators to secure GST registration as well as Tax Collected at Source registration.

Who Classifies as an e-Commerce Operator?

According to the GST Act, an e-commerce operator is a person who administers or retains any electronic, digital, or other commerce-based electronics, such as Amazon or Flipkart services. The e-commerce platform’s operator provides vendors with a mechanism that allows them to reach out to a large number of buyers by simply registering online. Customers benefit from this since they may shop from various merchants and compare prices for the things they want.

GSTR-8 aids in displaying information about the supplies that have been affected through the e-commerce platform. Furthermore, the amount collected through Tax Collected at Source on those supplies. However, the tax collected at source rules, which will take effect on October 1, 2018, has been put on hold for the time being. When it comes to TCS, a supplier can easily choose input credit, which is deducted. This is deducted from the e-commerce operator after they have filed GSTR- through the e-commerce operator. This amount of TCS is recorded in GSTR-2A’s Part-C form (this form is applicable to the supplier).

The due date for filing oneself under the GSTR-8 is the 10th of the next month. For example, if the due date for filing the GSTR-8 in November, the due date for the same filing will be December 10th.

What is the Penalty for not Filing GSTR-8 on Time?

In the event that the GSTR Return is not filed on time, a penalty of INR 100 is under the CGST. In addition, INR 100 under the SGST would be applied each day. The total payment will then be INR 200 each day, with a maximum of INR 5,000. As there is no late fee charged on IGST if the submission is late.

In addition to the late fee, there is an annual interest rate of 18 percent that must be computed by the taxpayer based on the tax that must be paid. The time limit or term will begin on the next business day after you file your D.O.P.

Once you have filed the GSTR-8 you can then not revise them. In case there is any kind of mistake made under the return can be rectified only in next month’s return. For instance, if you have filed and made a mistake on November GSTR-8, the revision for this month will be done in the month of December GSTR-8 or maybe in other months that follow if any kind of errors or any kind of omission has been found. 

Details to be provided in GSTR-8

In total there are 9 sections under GSTR-8:

  1. In case an individual does not have a GSTIN, a provisional id can be obtained instead.
  2. Legal Name
  3. Information about purchases made through an e-commerce platform
  4. Changes to the details of supplies in relation to the previous statement:
  5. Interest Details
  6. Tax Payable & Paid
  7. Interest Payable & Paid:
  8. Refund Claimed on the basis of an electronic cash log
  9. Refund Claimed on the basis of an electronic cash log
  10. TCS or Interest Payment debit entries in the cash book

Following are the requirements that you need to fulfill for filing yourself under GSTR 8:

  • Correct User ID & Password.
  • TCS Amount that is needed to be collected by the E-commerce operator only.
  • The E-commerce operator should have their active GSTIN, who also requires to be the registered person because only then will he be able to submit the tax return.
  • Need an absolute correct DSC or Digital Signature.
  • Require Registered Mobile Number for the same portal.

So take GST consultation services so that you can pay your taxes and register on time.

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