E-book on GSTR-2A and GSTR-2B for ITC

The GSTR-8 return form is monthly returned to be filed by e-commerce companies.

E-commerce companies are mandatorily registered under GST and required to deduct TCS (Tax Collected at Source) under GST.Form GSTR-8 showcases the details of supplies made by E-commerce platform to the registered, unregistered customer, tax paid, and tax payable along with the amount of tax collected at source from sellers.Important Features of GSTR-8 Return FormGSTR-8 is a mandatory form that has to file by every registered E-commerce operatorIt has to be filed on or before 10th of the coming month of a tax period.GSTR- 8 contains 8 headings, most of which are auto-populated.The details furnished by an e-commerce operator in GSTR-8 is available in part D of GSTR 2A.E-commerce portal deducts the Tax collection at source(TCS) from the supplier of the goods and services and returns it to the governmentE-commerce operators pay 1% TCS on all the goods and services sold out via their portal.Eligibility for E-commerce TCS Deduction Under GSTCentral Board of Indirect Taxes and Customs (CBIC) have clarified that entities having aggregate turnover less than INR 20 lakhs (or INR 10 lakhs in case of mentioned special category states) in a specific financial year are free from having mandatory registration.How GST defines E-commerce Operator?Section 43B(d) of the Model GST Law defines E-commerce as the platform that let an online market to receive/ supply the goods and services from/ to different vendors and customers respectively.

For an e-filing of GSTR-8 via tools like Gen GST software, an e-commerce operator should be registered under GST.GSTR-8 EligibilityEvery E-commerce operator is eligible to file GSTR-8.

Common Abbreviation Related To GSTR-8GSTIN: Goods and Services Taxpayer Identification NumberUIN: Unique Identification NumberUQC: Unit Quantity CodeHSN: Harmonised System of NomenclatureSAC: Services Accounting CodePOS: Place of Supply of Goods and ServicesB2B: Business to Business (from a registered person to another registered person)B2C: Business to Consumer (from a registered person to an unregistered person)Interest & Penalty on Late or Non-payment of GSTAs per the GST norms, each subsequent non-payment of taxes will accrue 18 percent interest on the GST tax payable starting from the due date till the taxes are paid.

For the detailed knowledge about it, you can check detailed interest guides in chapter 10, point 50 via below mentioned link: https://cbec-gst.gov.in/CGST-bill-e.htmlFor Instance: When a taxpayer fails to pay GST within the due dates there the interest will be calculated starting from the due date i.e.

0.49 per day at approx.

GSTR 9C is an annual audit form for all the taxpayers having the turnover above 2 crores in a particular financial year. It includes reconciliation Statement for a particular FY to be filed by taxpayers on or before 31st December after being certified by CAs/CMA. However, the due date for the same has been extended to 30^th June 2019 in the 31^st GST Council Meeting. It must be filed along with or after filing of the GSTR-9 i.e. GST annual return.