What is GSTR 8 Form For E-commerce Portals?
GSTR 8 form is the TCS deduction form for 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 the 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 the 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 the 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 March 2023
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 |
|---|---|
| March 2023 | 10th April 2023 |
| February 2023 | 10th March 2023 |
| January 2023 | 10th February 2023 |
| December 2022 | 10th January 2023 |
| November 2022 | 10th December 2022 |
| October 2022 | 10th November 2022 |
| September 2022 | 10th October 2022 |
| August 2022 | 10th September 2022 |
| 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 |
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 a penalty as per provision: Rs 100 for CGST and Rs 100 for SGST per day (maximum Rs 5000).
