What is GSTR 8 Form For E-commerce Portals?
GSTR 8 form is the TCS deduction form for the e-commerce companies registered under the GST regime. Every month, E-commerce operators must file GSTR-8. The detailing of who should be called E-commerce operators is defined under section 43(d).
Every month, the e-commerce companies file the GSTR-8 return form. Compulsorily, e-commerce companies must be registered under GST reign and must get the registration under tax collection source (TCS).
Supplies made by the E-commerce platform to the unregistered customer, registered customer, tax payable and tax paid are included in this. The form is filed by E-commerce which gives detail about how much money of tax is collected at source from sellers.
E-commerce Operator Under GST Regime
As per section 43B(d) of the Model GST Law, E-commerce is defined as the platform for different customers and vendors to supply and receive goods and services on the online market. An E-commerce operator is necessary to be registered under GST, to file GSTR-8 online via a common portal.
Important features of GSTR-8 Return Form
- Every registered E-commerce operator must file GSTR-8.
- Compulsorily, every E-commerce operator must file GSTR-8 on or before 10th of the coming month of a tax period.
- In part D of GSTR 2A, the details of the GSTR-8 which is filed by the E-commerce operator is present.
- GSTR-8 contains 8 headings and most of them are auto-filled.
- From the supplier of goods and services and returns to the government, E-commerce portals deduct the Tax Collection at Source (TCS).
- On all the goods and services which are sold out through the portals, 1% of TCS is paid by E-commerce operators.
GSTR-8 Eligibility and Due Dates June 2022
GSTR-8 can be filed by an E-commerce operator after the month ends and the last date to file the details is the 10th of the next month of the tax period.
|Return Monthly||Due Date|
|July 2022||10th August 2022|
|June 2022||10th July 2022|
|April 2022||10th May 2022|
|March 2022||10th April 2022|
|February 2022||10th March 2022|
|January 2022||10th February 2022|
|December 2021||10th January 2022|
|November 2021||10th December 2021|
|October 2021||10th November 2021|
|September 2021||10th October 2021|
|August 2021||10th September 2021|
|July 2021||10th August 2021|
|June 2021||10th July 2021|
Important Terms Related to GSTR-8
- GSTIN: Goods and Services Taxpayer Identification Number
- UIN: Unique Identification Number
- UQC: Unit Quantity Code
- HSN: Harmonised System of Nomenclature
- SAC: Services Accounting Code
- POS: Place of Supply of Goods and Services
- B2B: Business to business
- B2C: Business to Customer
Interest & Penalty on Late Payment of GST
As per the GST council rules and regulations, the individual who fails to make the payment has to pay 18 percent interest on GST tax payable starting from the due date till the tax is paid.
GST is required to be paid mandatorily on time, failing which attracts penalty as per provision: Rs 100 for CGST and Rs 100 for SGST per day (maximum Rs 5000).