The E-Commerce Operators have to file their GSTR-8 before 10th August 2023. The GSTR-8 is a return that e-commerce operators must submit, as mandated by Goods and Services Tax (GST) law, when they are obligated to deduct TCS (Tax collected at source) under GST. This return includes information about the supplies made through the e-commerce platform and the corresponding amount of TCS collected on those supplies.
E-commerce sellers are required to pay TCS at a rate of 1% on the net value of goods or services sold through the e-commerce operator. However, it is the sole responsibility of the e-commerce operator to handle the collection, remittance, and compliance with TCS regulations. As a result, all e-commerce operators must incorporate provisions in their systems to ensure compliance with TCS provisions.
The E-commerce operator is any person who owns or manages the digital or electronic facility or platform for electronic commerce including Amazon, Flipkart, Meesho..etc. The details to be provided while filing the GSTR- are:
In case of a delay in filing the GSTR-8 return, a penalty of Rs. 200 (Rs. 100 CGST and Rs. 100 SGST/UTGST) per day will be levied. Nonetheless, the maximum penalty that a taxpayer may incur is Rs. 5,000.
Furthermore, apart from the late payment penalty, the taxpayer will also be liable to pay an annual interest rate of 18% on the outstanding tax amount. The interest charge is calculated based on the unpaid tax balance.
The Central Board of Indirect Tax and Customs (CBIC) has also notified conditions for registration of Goods and Service Tax (GST) to suppliers of Goods supplies through E-commerce operators and Tax Collection at Source (TCS) on 4th August 2023.
Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates
