What is GSTR-8 and How to Revise GSTR-8?

Posted In | Finance | Accounting Software | Gridlex Academy | India Accounting Tax

GSTR-8 is a monthly return that e-commerce operators registered under the Goods and Services Tax (GST) regime in India are required to file. The return consists of details of supplies made through the e-commerce platform, as well as the tax collected at source (TCS) on such supplies. It is important for e-commerce operators to file their GSTR-8 returns accurately and on time, as it enables them to fulfill their obligations under the GST law and avoid any penalties.

 

In this article, we will take a closer look at GSTR-8 and how to revise it in case of any errors or discrepancies.

 

 

What is GSTR-8?

GSTR-8 is a monthly return that e-commerce operators registered under GST are required to file on the GST Portal. It consists of the following details:

1. Supplies made through the e-commerce platform: This includes the details of all the supplies made through the e-commerce platform during the month, such as the name and GSTIN of the supplier, the value of the supplies, and the applicable GST rate.
2. Tax collected at source (TCS): As an e-commerce operator, you are required to collect TCS at the rate of 1% on the value of taxable supplies made through your platform. The TCS collected needs to be reported in GSTR-8.
3. Inward supplies received from unregistered persons: If you have received any inward supplies from unregistered persons (i.e., persons who are not registered under GST), you need to report them in GSTR-8.
4. Amendments to earlier filed returns: If you need to make any amendments to the details of supplies reported in earlier filed GSTR-8 returns, you can do so in the current return.

GSTR-8 is required to be filed by the 20th of the month following the tax period. For example, if the tax period is January 2021, the GSTR-8 return for that period needs to be filed by 20th February 2021.

 

How to Revise GSTR-8?

In case you have filed an incorrect or incomplete GSTR-8 return, you can revise it by following the steps below:

1. Log in to the GST Portal using your login credentials.
2. Go to the "Returns Dashboard" and click on the "Revise Return" option.
3. Select the tax period and the return filing period for which you want to revise the return.
4. Make the necessary corrections or additions to the return and click on the "Save" button.
5. Once you are satisfied with the revised return, click on the "Submit" button to file it.

It is important to note that you can revise your GSTR-8 return only up to the due date for filing the return for the relevant tax period. If the due date has passed, you will not be able to revise your GSTR-8 return.

 

Conclusion

In conclusion, GSTR-8 is a monthly return that e-commerce operators registered under GST are required to file on the GST Portal. It consists of details of supplies made through the e-commerce platform, TCS collected, and inward supplies received from unregistered persons. If you have filed an incorrect or incomplete GSTR-8 return, you can revise it by logging in to the GST Portal and making the necessary corrections or additions to the return. It is important to file your GSTR-8 returns accurately and on time to fulfill your obligations under the GST law and avoid any penalties.

 

Frequently Asked Questions: 

1. Who are required to file GSTR-8?

GSTR-8 is a monthly return that is required to be filed by e-commerce operators registered under the Goods and Services Tax (GST) regime in India. An e-commerce operator is defined as a person who owns an e-commerce platform and is responsible for facilitating the supply of goods or services or both, including digital products, by various registered or unregistered persons.

 

2. What are the eligibility criteria for E-commerce operators to file GSTR-8?

E-commerce operators are required to file GSTR-8 if they meet all of the following criteria:

1. They are registered under GST.
2. They facilitate the supply of goods or services, or both, including digital products, by various registered or unregistered persons through their e-commerce platform.
3. They are required to collect tax at source (TCS) at the rate of 1% on the value of taxable supplies made through their platform.

In other words, if you own an e-commerce platform and are responsible for facilitating the supply of goods or services, or both, by various registered or unregistered persons, and you are registered under GST and are required to collect TCS, you are required to file GSTR-8.

 

3. When is the GSTR-8 last date?

The due date for filing the GSTR-8 return is the 20th of the month following the tax period. For example, if the tax period is January 2021, the GSTR-8 return for that period is required to be filed by 20th February 2021.

 

4. What if we are unable to file GSTR-8 return by the due date?

In case you are unable to file your GSTR-8 return by the due date, you can file it late by paying a late fee. The late fee for delayed filing of GSTR-8 is as follows:

• Rs. 50 per day for the first 15 days of delay (minimum late fee of Rs. 1000)
• Rs. 100 per day for the next 15 days (minimum late fee of Rs. 2000)
• Rs. 200 per day after 30 days of delay (minimum late fee of Rs. 5000)

It is important to file your GSTR-8 returns accurately and on time to fulfill your obligations under the GST law and avoid any penalties.