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GSTR 8 by HA TAX

GSTR 8

Jun 10, 2022

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Contents

As to cater for individuals & businesses from various sectors, the GST council has introduced various GSTR forms. GSTR 8 is one of them. It is a form which is applicable to e-commerce operators who are required to deduct TDS under GST. 

Pre-Requisite for GSTR 8

Some of the pre-requests conditions for filing GSTR-8 are:

  1. Businesses must be registered under GST and have a unique ID, that is, GSTIN.
  2. E-commerce operator registered 
  3. Active Digital Signature Certificate (DSC) & Electronic Verification Code (EVC) should a business have.

Who should file for GSTR 8?

An E-commerce operator registered under GST is required to file GSTR 8. Under GST purview e-commerce operator is the one who either owns or manages an electronic facility. 

It is mandatory from the Government side that all the e-commerce operators should get registered under GST and also for Tax Collection at Source (TCS). 

With GSTR 8 one can easily see the details of all the supplies of products or services being made and TCS collected on such supplies.  

Maximum Late fee charged

The penalty for the late fee charged is Rs.200 per day. The maximum fee charged is Rs. 5000. But in case of IGST delay in filing no fee is charged.

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Steps to file GSTR8

A few of the steps that have to be carried out for filing the GSTR 8 form are:

  1. Login to the GST portal (https://www.gst.gov.in/) with one’s credentials.
  2. Under the Services Tab, click one Returns > Returns Dashboard.
  3. Select the financial year & month.
  4. Under the tab “Tax Collected At Source”, click “Prepare Online”.
  5. Next, enter the details which are in the subsequent tiles which appear in the dashboard. (The other tiles are- Details of Supplies attracting TCS, Amendment to details of Supplies attracting TCS No. of Record, and Details of Interest)
  6. Once all the documents have been filled, click on “Preview GSTR 8” to verify the data uploaded and then click on “Proceed to File”.
  7. The “Status” will change to “Ready to file”.

Note: Check the interest amount if any under the tile “Details of Interest”. If there is any interest then click on the “Payment of Tax ”

  1. Finally, click on “Proceed to Pay” via using Digital Signature Certificate (DSC) or via Electronic Verification Code (EVC)
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Due Dates of filing GSTR8

The due date for filing GSTR 8 is 10th of the every succeeding month. For example, if one has to file a March return then the date of filing is April.

Due Dates of filing Revised Return

GST council has not provided any option to file a revised return but has given the flexibility to make corrections while filing the next month’s return.

Important Details which GSTR 8 contains

Some of the important details which are contained in GSTR 8 are:

  1. GSTIN

It is a unique number which is provided to registered GST taxpayers. This makes filing easy.

  1. Legal Name of the registered person

It is the name of the taxpayer that will be used up on the website while logging into the GST Portal.

  1. Details of suppliers made through e-commerce operator

This information detail provides the gross value of the supplies that have been made to registered persons & unregistered persons along with the value of supplies returned by registered & unregistered persons. But TCS will be charged on the net amount (which is the difference between the supplies & supplies returned)

  1. Amendments to details of supplies in respect of any earlier statement

Changes which has to be made in the earlier document can be stated in this section.

  1. Details of interest

In this section, interest is levied on the amount of TCS if not paid on time by the e-commerce operator and apart from it, interest is levied on the amount of late payment.

  1. Tax payable and paid

It includes the total amount of tax paid under GST.

  1. Interest payable and paid

With respect to late payment of GST, 18% of interest is charged. Given the aspect that interest is calculated on the outstanding tax amount.

  1. Refund claimed from electronic cash ledger

Refund is claimed from the electronic cash ledger only when all the TCS liability for that particular period has been discharged.

  1. Debit entries in the cash ledger for TCS/ interest payment

The tax collected at the source will flow to Part C section of GSTR-2A of the taxpayer on filing GSTR-8.

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