We discussed earlier about the impact of goods and services tax on e-commerce industry. Continuing our discussion further about the return filing requirement from an e-commerce operator, here we are detailing the information requirement in GSTR-8.
Requirement to Furnish GSTR-8
Every e-Commerce operator, who is required to collect tax at source (TCS) under GST, shall furnish a statement in form GSTR-8 electronically through the Common Portal. This return shall contain details of supplies effected and the amount of tax collected as required under sub-section (1) of section 43C of Model GST Law. GSTR-8 is required to be filed before 10th of next month.
Counter-Party Information Return To Be Auto-Populated
The details of tax collected at source by an e-commerce operator under section 43C furnished in form GSTR-8 shall be made available to the concerned taxable person in Part D of form GSTR 2A electronically through the Common Portal and such taxable person may include the same in his GSTR-2.
Below we have provided various heads under which information needs to be furnished:
GSTIN – Each taxpayer will be allotted a state-wise PAN-based 15-digit Goods and Services Taxpayer Identification Number (GSTIN). A format of proposed GSTIN has been shown in the image below. GSTIN of the taxpayer will be auto-populated at the time of return filing.
Name of Taxable Person- Name of the taxpayer, will also be auto-populated at the time of logging into the common GST Portal.
Period: (Month -Year)- A Taxable person is required to select from a drop down the relevant month and year respectively for which GSTR-3 is being filed.
Details of the supplies to Registered Taxable Person – Merchants registered on e-commerce marketplace are required to furnish details of supplies made to registered taxable person through the e-commerce operator. Here marketplace sellers are required to furnish details of GSTIN of the supplier, Merchant ID issues by e-commerce operator along with the gross value of supplies etc.
Amendment to Details of the Supplies – Any amendment in the details of the supplies of the previous period can be made under this head. The modification can be made into the amount of invoice, taxable value or the amount of IGST, SGST and CGST tax.
Details of the Supplies to Unregistered Persons – All the supplies made by the e-commerce marketplace merchant to unregistered person through the e-commerce operator needs to be reported here.
Amendment to Details of the supplies to unregistered person – Any amendment to the details of supplies made to unregistered person through e-commerce operator needs to be furnished here.
Tax Collected at Source (TCS) Details – This is one of the most important heading wherein the operator is required to furnish details of all tax collection at source. This detail needs to be maintained along with supplier details. Merchant is also required to specify the business to business (B2B) and business to consumer (B2C) transactions.
Liability Payable and Paid – Once all the details are furnished, the system will auto-calculate the tax liability and tax credit available. This heading includes Tax Collected at Source (TCS), Interest on delayed payment of TCS, the fee for late filing etc.
Once all the particulars are furnished correctly, the taxpayer is required to sign digitally either through a digital signature certificate (DSC) or Aadhar based signature verification to authenticate the return.
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