Everything You Need to Know About GSTR 8

GSTR-8 is a GST Return for e-commerce operators. Let us get into the depth of GSTR-8:

What is GSTR-8?

GSTR-8 is a type of GST Return that has to be filed by the e-commerce operators (businesses that have an online market place where buyers and sellers meet). GSTR-8 has to file by such taxpayers/businesses on a monthly basis.

Details that shall be furnished in the GSTR-8

Generally, GSTR-8 shall contain all the details regarding supplies made by the registered or unregistered dealer via the taxpayer's online marketplace. Moreover, it shall also disclose the below-mentioned information:

Tax Collected at Source (TCS)

Tax payable or paid

Due Date for Filing GSTR-8?

The last date of filing GSTR-8 is the 10th of the following month.

Let us understand this with an example:

If an e-commerce operator wants to furnish GSTR-8 for the month on January 2020 than he/she shall furnish it on or before 10th February 2020.

Applicability criteria to file GSTR-8

Here are the applicability criteria that shall be fulfilled in order to file the GSTR-8 form

e-Commerce operator shall be registered under GST and must have valid GSTIN.

The aggregate turnover during the preceding year shall be more than 40 Lakh INR. However, the limit prescribed is the matter of state and it is subject to change. For instance, the aggregate turnover limit in the North-Eastern state is 20 Lakh INR.

The taxpayer shall have an online market place wherein the other dealers/vendors sell goods or/and services to customers/buyers.

Taxpayers who are not eligible to file GSTR-8 Form

Here is the list of taxpayers who are not eligible to file GSTR-8 Form:

i. Composition Scheme holder

ii. Non-Resident Taxable Person (NRTP)

iii. Any other taxpayer who does not have an online marketplace

GSTR-8 Filing Format

Here is the GSTR-8 format and let us see every section of GSTR-8 in detail.

GSTIN

In this section, the taxpayer needs to mention the GST Identification Number (GSTIN)

Taxpayers Name

In this part of the GSTR-8 Form, the taxpayer needs to mention the registered name of your business.

Tax Period

In this section, the taxpayer needs to mention the tax period for which he/she filing GSTR-8.

Details of supplies made to Registered taxpayers

In this part of the GSTR-8 form, the vendors/sellers who use your online market place to sell their goods or services or both to other businesses are required to furnish all the data. In this part, the seller needs to mention his GSTIN, the total value of supplies, Sellers-ID (allotted by you).

However, the details furnished in this section can be modified or updated by you using Part-4A of GSTR-8 form.

Details of the Supplies to Unregistered taxable Persons

In this part of the GTR-8 Form, you need to furnish all the details regarding the supplies made to all the unregistered taxable persons. In other words, you need to report the details of B2C (Business to Customers) supplies made through your online market place.

However, the details furnished in this section can be modified or updated by you using Part-5A of GSTR-8 form.

Details regarding TCS (Tax Collected at Source)

In this section of the GSTR-8 Form, you need to mention all the tax that you have collected at Source (TCS) together with the details of vendors. Once furnished, the data gets cross-validated with the details mentioned by the vendor.

Tax Payable/Paid

After furnishing all the above details, the tax payable by you will get auto-calculate by the system. The tax payable, paid, penalties or late-fees details will reflect in this section.

Authentication

After filling all the information, you need to digitally sign the form. This will authenticate that the details disclosed by you are true. You can authenticate the GSTR-8 Form either using a Digital Signature Certificate (DSC) or AADHAAR based verification system.

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Created on Jan 20th 2020 04:10. Viewed 436 times.

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