Quick Summary
New functionalities made available for TCS and Composition taxpayers
1.Provision to make amendment, multiple times, in Table 4 of Form GSTR-8
- Earlier, if no action was taken on TCS details, auto-populated in TDS/TCS credit form, by the supplier or if the same were rejected by them in the said form, the TCS (e-commerce operators) could amend the details only once.
- Based on requests received from stakeholders, the restriction of amending the transaction details only once, in the table 4 (i.e. amendment table) of Form GSTR-8, has now been removed.
- Thus, details of table 4 (i.e. amendment table) of Form GSTR-8, can now be amended multiple times, by e-commerce operators liable to collect tax at source under section 52, while filing their Form GSTR-8.
2.TCS facility extended to composition taxpayers
- The taxpayers under composition scheme, who are permitted to make supplies through E-Commerce Operators, e.g. Restaurant Services, will now be able to view and take necessary actions in their TDS/TCS credit received form.
- E-commerce operators would now be able to add GSTIN of such composition suppliers, in their Form GSTR-8 and file the Form.
- The amount of tax collected at source, reported by E Commerce Operators in their Form GSTR-8, will now be populated to ‘TDS /TCS credit received’ form of respective composition taxpayers.
- The amount so reported by e-commerce operators will now be available to respective composition taxpayers, for accepting or rejecting the same, in their ‘TDS and TCS credit received’ form.
- For accepted transactions, the amount would be credited to cash ledger of composition taxpayers, after successful filing of ‘TDS/ TCS Credit received’ form.
- For rejected transactions, the amount would be shown to e-commerce operators for correction.
Thanking you,
Team GSTN
FAQ :
TCS taxpayers, specifically e-commerce operators, can now amend details in Table 4 of Form GSTR-8 multiple times, whereas previously they were restricted to a single amendment.
Composition taxpayers who supply goods or services through e-commerce operators can now view and take action on their TDS/TCS credit received. The amounts reported by e-commerce operators will be populated in their 'TDS /TCS credit received' form.
For accepted transactions, the TCS amount will be credited to the cash ledger of the composition taxpayer after they successfully file their 'TDS and TCS credit received' form.
If a composition taxpayer rejects a TCS amount, it will be shown back to the e-commerce operator for correction.
The TCS facility is now extended to composition taxpayers who are permitted to make supplies through E-Commerce Operators, such as those providing restaurant services.
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