TCS on E-Commerce Operators: CBIC reminds due date of filing GSTR-8 Return

TCS - E-Commerce Operators - CBIC - filing GSTR-8 Return - Taxscan

The Central Board of Indirect Taxes and Customs ( CBIC ) has reminded all taxpayers about the due date of filing GSTR-8 Return. The CBIC had notified that the e-commerce operators shall collect one percent as Tax Collected at Source (TCS) under the Goods and Services Tax (GST) regime.

The due date of filing GSTR-8 Return for the month of January, 2021 is February 10th, 2021. The e-commerce suppliers must file a monthly return by the 10th of the following month containing details of all the sales transaction on which TCS is collected in Form GSTR-8. On the other hand, the vendors/ suppliers must file 3 monthly returns. It is only when these returns are duly filed that the suppliers can claim credit of the tax collected.

Tax Collected at Source (TCS) under GST means the tax collected by an e-commerce operator from the consideration received by it on behalf of the supplier of goods, or services who makes supplies through operator’s online platform. TCS will be charged as a percentage on the net taxable supplies.

Every electronic commerce operator, not being an agent, shall collect an amount calculated at a rate of half percent. of the net value of intra-State taxable supplies made through it by other suppliers where the consideration with respect to such supplies is to be collected by the said operator.

Accordingly, E-Commerce giants in India like Amazon, Google, Apple and other foreign companies operating in the e-commerce space will have to register themselves for GST.

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