What is GSTR-8?
Form GSTR-8 is a monthly return form to be furnished by all e-commerce operators who are required to deduct TCS (Tax Collected at Source) under GST.
Form GSTR-8 will show the details of supplies effected through the e-commerce platform and the amount of TCS collected on such supplies. Post GSTR-8 return filing, the supplier can take the input tax credit of such TCS deducted by the e-commerce operator. The amount of such TCS will be reflected in Form GSTR-2A of the supplier.
Who are required to file GSTR-8?
Every e-commerce operator registered under GST is required to file GSTR-8.
An e-commerce operator has been defined under the GST Act as any person who owns or manages a digital or electronic facility or platform for carrying out electronic commerce. All such e-commerce operators are mandatorily required to obtain GST registration as well as register for TCS.
However, it is to be noted that as per the recent GST Council notifications, TCS has been deferred, and is expected to be applicable from 1st April, 2018.
When is the GSTR-8 last date?
The GSTR-8 due date is the 10th of the following month.
However, as discussed above, TCS has been put on hold, and thus filing GSTR-8 too is not required as of now, at least till 1st April, 2018.
What if GSTR-8 filing is done late?
If the GSTR-8 return is not filed on time, then a penalty of INR 100 per day under CGST & INR 100 per day under SGST shall be levied i.e. a total of INR 200 per day. However, the maximum of such a penalty will be INR 5,000. There is no late fees however on IGST.
Along with late fees, an interest has to be paid at the rate of 18% per annum, and will be calculated by the taxpayer on amount of outstanding tax to be paid. The time period will start from the next day of filing i.e. the 11th of the month, to the date of actual payment.
How to revise GSTR-8?
Form GSTR-8 once filed cannot be revised. Any mistake made in the return can be revised in the next month’s return, when the error or omission is identified.
GSTR-8 will contain the details of all supplies effected through e-commerce platforms and the amount of TCS collected on such supplies.
How to file GSTR-8
Following are the details to be provided in the GSTR-8 form, spread across 9 tables:
- 1. GSTIN: A provisional ID can also be used, in case one does not have a GSTIN)
- 2. Legal name of the registered person: The name of the taxpayer will be auto-populated at the time of logging into the GST Portal.
- 3. Details of supplies made through e-commerce operator: In this section, one needs to mention the gross value of supplies made to registered persons and unregistered persons and value of supplies returned by such registered and unregistered persons. The difference between the supplies made and supplies returned, will be the net amount liable for TCS.
- 4. Amendments to details of supplies in respect of any earlier statements: Any correction to the data submitted in the return of previous months can be done in this section.
- 5. Details of interest: If the amount of TCS is not paid on time by the e-commerce operator, then interest is levied on account of late payment of TCS amount, which needs to be accounted in this section.
- 6. Tax payable and paid: This section includes the total amount of tax payable under each head i.e. SGST, CGST and IGST, and how much tax has been paid till date.
- 7. Interest payable and paid: Interest at 18% is levied for the late payment of GST. The interest is calculated on the outstanding tax amount, and is accounted in this section.
- 8. Refund claimed from electronic cash ledger: Refund from electronic cash ledger can be claimed only when all the TCS liability for that tax period has been discharged. Such amount needs to be mentioned in this section.
- 9. Debit entries in cash ledger for TCS / interest payment (to be populated after payment of tax and submissions of return): The amount of TCS collected will flow to Form GSTR-2A of the taxpayer on completion of GSTR-8 filing.