What is GSTR-8 return?
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 e-commerce platform and amount of TCS collected on such supplies
Who should file GSTR-8?
Every e-commerce operator registered under GST is required to file GSTR-8.
E-commerce operator has been defined under GST Act as any person who owns or manages a digital or electronic facility or platform for electronic commerce, such as Amazon, etc. All such e-commerce operators are mandatorily required to obtain GST registration as well as registered for TCS (Tax collection at source).
Details about GSTR -8 Format
GSTR 8 form has 9 sections. Here are the details about the same.
GSTIN is a 15-digit number provided to each person who registers for GST. You may use a provisional ID if you do not have a GSTIN number.
Registered Person’s Legal Name:
The taxpayer’s name will be auto-populated when entering into the common GST portal.
Information about Supplies made through an E-commerce Operator:
Specify the significant quantity of supplies provided to authorised and unauthorised individuals and the number of goods reimbursed by such registered and unregistered individuals. The net sum owed to TCS will be the difference between the goods made and the supplies returned.
Modifications to the Supply Information Mentioned in a Previous Statement:
By filling out this area, you can make any changes to the data provided in the earlier months’ returns.
Information of interest:
Interest is charged if the e-commerce operator fails to pay the TCS amount timely.
Details about Payable and Paid Taxes: This column contains data on the entire amount of CGST, SGST, and IGST tax that is payable, as well as the amount of tax that has already been paid.
Details about Due and Paid Interest:
For the late payment of GST, an interest of 18% is assessed. The amount of unpaid taxes is used to compute the interest.
Refund Demanded from Electronic Cash Ledger:
If all TCS obligations for that tax period have been satisfied, a refund from an electronic cash ledger may be claimed.
Debit Entries in Cash Ledger for TCS/Interest Payments:
Upon submitting GSTR-8, the taxpayer’s part C of GSTR-2A will receive the amount of tax received at the source.
Prerequisites for Filing GSTR 8
To file for GSTR 8 return, you must fulfil certain conditions listed below.
- You must have a 15-digit PAN-based GSTIN.
- You must be a GST-registered taxpayer.
- Your company should have a revenue of more than Rs. 20 Lakhs (Rs. 10 Lakhs in NE India).
- You must be an e-commerce operator and have an online marketplace where other merchants and businesses offer products to clients.
- All GST-registered taxpayers who have chosen neither the GST composition scheme nor a Unique Identification Number must file this return.
- Non-resident taxpayers are not eligible to file this return.
- You must retain detailed records of all taxes collected at the point of sale for transactions conducted via your online platform.
How to File GSTR 8 Online?
Here are the steps to follow to file the GSTR 8 return online.
Step 1: Access the website of the GST portal.
Step 2: Log in to the page with your credentials.
Step 3: Navigate to the ‘Services’ tab.
Step 4: Click on the ‘Returns’ option. Choose ‘Returns Dashboard’ from the drop-down menu.
Step 5: Fill in the details of the financial year and month you are filing the return.
Step 6: Now, click ‘PREPARE ONLINE’ to continue.
Step 7: Fill in the details in different sections.
Step 8: Once all the details have been uploaded, click “Preview GSTR 8.” Then, validate the submitted data and select “Proceed to File.”
Step 9: Once the status of GSTR 8 is changed to “Ready to File,” Tile 5 “Details of Interest”, and tile 6, 7 “Payment of Tax” will be available.
Step 10: You may view the interest under the “Details of Interest” title for the delay in paying the TCS debt, filing the TCS return, etc., if any.
Step 11: Click the “Payment of Tax” window after viewing the interest tile to input the information on taxes paid for that specific month.
Step 12: Lastly, accept the declaration for submitting the GSTR-8, select “File GSTR 8” and submit it.
The Bottom Line
GSTR-8 is an essential compliance requirement for e-commerce operators in India. It involves reporting supplies, TCS, and reconciliation with other GST returns. By understanding the bottom line of GSTR-8 and adhering to its filing requirements, e-commerce operators can contribute to the efficient functioning of the GST system while avoiding penalties and legal issues.
GSTR 8 FAQs
Is it mandatory to file GSTR 8?
Yes, e-commerce organisations need to file GSTR 8 return as it contains information about the supplies made using the platform and the TCS that was paid for those sales.
When is GSTR-8 due?
GSTR-8 filing for a month is due on the 10th of the following month. For instance, the due date for GSTR-8 for October is on the 10th of November.
Do we need to file nil GSTR 8?
No, it is not necessary to file Form GSTR-8 for the tax period in which there are only rejected documents in Table 4, and there is no TCS liability.