Guide to File GSTR-8 on GST Portal

Any e-commerce operator that must collect taxes at the source (TCS) for all supplies subject to taxes made through it, must submit the GSTR 8. The details of such supplies subject to taxes and the tax levied at the source by The e-commerce operator must be informed on the GSTR-8 form. The return on Form GSTR-8 must be submitted on the GST Portal before the 10th of the following month.

Here is the step-by-step guide to filing GSTR-8 on GST portal :

GSTR-8

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Rates of TDS given under the Income-tax Act

TDS rates given under the Income Tax Law

192A – Payment of the accumulated balance due to an employee who participates in a recognized pension fund 10%
(See note 2 below)

194C – Payment to the contractor / subcontractor 1% when the payment is made to an individual / HUF. 2% in other cases (see note 1 below)

194DA  – Payment made to a resident of any amount under a life insurance policy that is not exempt u / s 10 (10D) 1%

194E – Payment to non-resident athletes or sports associations or an artist 20%

194EE – Payment with respect to deposits under the National Savings Plan covered u / s 80CCA 10%

194G – Commission, etc. to the sale of 5% lottery tickets

194H – Commission and Brokerage 5%.

194-I – Rent
– For the use of any machinery or plant or equipment 2%.
– For the use of any land or building (including the factory building) or land associated with a building (including the factory building) or furniture or accessories.
– In case the beneficiary is individual or HUF 10%.
– In any other case 10%.

194-IA – Transfer of real estate (other than agricultural land) 1%

194-IB – Payment of rent by certain individuals or an undivided Hindu family (apart from those referred to in the second condition of section 194-I) (W.e.f. 1.6.2017) 5%

194-IC – Payment of the consideration, which is not a consideration in kind according to the specified agreement (ie, the development agreement referred to in section 45 (5A)) (Wef 1.6.2017) 10 %

194J – Rate for professional or technical services or royalties or fee for non-competition or w.e.f. 1.7.2012 any remuneration, fees or commission for the name that is called, other than those over which the tax is deductible according to section 192, to a director of a company. 10%

However, in the case of a beneficiary who is dedicated solely to the call center operations business, 2%.

194LA – Payment of compensation in the acquisition of certain immovable property other than the payment of any prize or agreement that has been exempted from income tax services pursuant to section 96 of the Right to Fair Compensation and Transparency in Acquisition , rehabilitation and land resettlement Law, 2013 (RFCTLAAR Law) 10%.

194LB – Income through interest payable to non-residents (other than a company) or foreign company by Infrastructure Debt Fund
(i) When the beneficiary is a resident of 5%.
(ii) when the beneficiary is not a resident at the current rate

194LBC – Revenues from investment in securitization trusts-
(i) When the beneficiary is an individual or HUF 25%
(ii) when the beneficiary is any other person 30%

194LBA – Any distributed income referred to in section 115UA payable by a commercial trust to its owner of the unit:
– When the payment is made to a resident 10%.
– when the payment is made to a non-resident or foreign company 5%

194LBB – Revenues with respect to units of the investment fund 10%

194LC – (1) Income through interest payable to nonresidents (other than a company) or to a foreign company by an Indian company or a commercial trust for money borrowed in foreign currency by an Indian company;
(i) with respect to money lent in foreign currency from a source outside of India:

(a) under a loan agreement at any time on or after 1-72012 but before 1-7-2020; or 5%
(b) by issuing long-term infrastructure bonds at any time on or after 1-7-2012 but before 1-102014; or 5%
(c) through the issuance of any long-term bond, including the long-term infrastructure bond, at any time as of 1-10-2014 but before the 7/7/2020, 5%
(ia) with respect to funds borrowed from a source outside India through the issue of rupee bonds before 1.7.2020 (W.r.e.f. 1.4.2016) 5%

(ii) to the extent that said interest does not exceed the amount of interest calculated at the rate approved by the Central Government in this name, taking into account the terms of the loan or bond and its reimbursement.

194LD – Interest income on rupee-dominated bonds and government securities payable from 1-6-2013 but before 1-7-2020 to a foreign institutional investor or qualified 5% foreign investor

196B – Long-term income and capital gains from units to an offshore fund 10%

196C – Long-term capital gains and profits on bonds in foreign currency or shares of Indian companies 10%

196D – Income of foreign institutional investors by values ​​20%

206C – Tax collected at source in certain cases 1% to 5%

Notes 1.W.e.f. 1.6.2015 The zero tariff will be applied only when the carrier has 10 or less freight wagons at any time during the previous year and provides a declaration to that effect together with its NAP.

According to section 206AA, the TDS rate will be 20% or the TDS rate, whichever is greater in all cases, except in section 192A and 194LC, if the deduction (including the carrier) does not deliver the BREAD to the deductor. The TDS rate according to section 192A will be the maximum marginal rate if the deduction does not deliver the PAN to the deducer.

The provisions of section 206AA shall not apply to a non-resident, who is not a company, nor to a foreign company, with respect to:

(i) payment of interest on long-term bonds as mentioned in section 194LC; Y

(ii) Any other payment subject to the conditions that may be prescribed.

According to section 206CC, the collector must provide his PAN to the collector, otherwise, the tax will be charged to the greater of the following types, namely:

(i) at double the rate specified in the relevant provision of this Act; or

(ii) at five percent.

However, the provisions of this section will not apply to a non-resident who does not have a permanent establishment in India.

GST Annual return and Audit

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9 Questions on GST Annual return and Audit

[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_tta_accordion style=”modern” spacing=”3″ gap=”3″ c_icon=”triangle” active_section=”0″ no_fill=”true” collapsible_all=”true”][vc_tta_section title=”What are the legal provisions for the annual declaration and the GST audit?” tab_id=”1544163577148-5adeb363-b93e”][vc_column_text]The legal requirement to present the annual declaration hereinafter referred to as GSTR-9 is governed by section 35 (5) and section 44 (1) of the CGST Act. Section 44 (1) of the CGST Act, read with Rule 80 (1) of the CGST Rules, requires that each registered person who is not

  • an Input Service Distributor,
  • a person paying tax under section 51 (TDS) or section 52 (TCS),
  • a casual taxable person and
  • a non-resident taxable person,

You must file an annual return for each financial year in electronic form on Form GSTR-9 on or before December 31 following the end of that financial year. In addition, according to section 35 (5) of the CGST Act, any registered person whose turnover during a fiscal year exceeds the prescribed limit (Rs. 2 cr.) Will have their accounts audited by an authorized accountant or accountant. costs and submit a copy of the audited annual accounts, the conciliation status (GSTR-9C) under subsection (2) of section 44 and any other document in the form and manner prescribed. Reconciliation statement: GSTR-9C is a reconciliation of data according to the account and data books as reported in GSTR-9[/vc_column_text][/vc_tta_section][vc_tta_section title=”Whether transactions for the period April-17 to June-17 are also to be included in GSTR-9 for FY 2017-18? ” tab_id=”1544163577149-0250a3a2-88ca”][vc_column_text]No, the instructions that are part of the GSTR-9, which were notified by Notification No. 39/2018 dated September 4, 2018, clearly mention that only the details of the period from July 2017 to March 2018 will be provided. in the GSTR-9.[/vc_column_text][/vc_tta_section][vc_tta_section title=”If a Taxpayer has obtained more than one GST Registration even though he has a single PAN, then whether GSTR-9 is to be filed at Entity level or GSTIN wise? ” tab_id=”1544163805488-fa91ac3c-9c53″][vc_column_text]In accordance with the statutory provision of Section 44 (1) of the CGST Act, each registered person must submit the GSTR-9. Therefore, if a Taxpayer has obtained multiple GST Registrations, either in one state or in more than one state, it will be treated as a separate person with respect to each such record according to section 25 (4) of the CGST Law Therefore, it is required that GSTR-9 be presented separately for each GSTIN.[/vc_column_text][/vc_tta_section][vc_tta_section title=”What is the difference between GSTR-9 and GSTR-9C? ” tab_id=”1544163874446-e1054f17-3295″][vc_column_text]In accordance with section 35 (5) of the CGST Act, any registered person whose turnover during the financial year exceeds the prescribed limit (Rs.2 cr.) Must obtain their audited accounts by an authorized accountant or a cost accountant and must present a copy of the audited annual accounts, the conciliation declaration under subsection (2) of section 44 that is called GSTR-9C and any other document in the form and form prescribed. Therefore, the GST Audit u / s 35 (5) requirement would arise only if the prescribed rotation limit exceeds Rs. 2 cr. and the certified conciliation statement -GSTR-9C must be presented. On the other hand, GSTR-9 is an annual declaration that must be presented by each registered person, regardless of the volume limit of business.[/vc_column_text][/vc_tta_section][vc_tta_section title=”Whether Turnover of 2 Cr. For GST Audit would be for 9 months or Full Financial year? ” tab_id=”1544163936103-ada7c347-11d6″][vc_column_text]For fiscal year 2017-18, the GST period comprises 9 months, while the relevant section 35 (5) uses the term Financial year; Therefore, in the absence of clarification by the government, also to avoid any case of non-compliance, it is reasonable to understand that the rotation limits prescribed for the audit are taken into account, ie 2 Cr. One has to calculate the volume of the entire financial year, which would include the first quarter of the 2017-18 fiscal year.[/vc_column_text][/vc_tta_section][vc_tta_section title=”What will be source of information for filling up GSTR-9? ” tab_id=”1544164017208-b504d6e4-8b64″][vc_column_text]GSTR-9 is simply a compilation of archived data in GSTR-3B and GSTR-1. According to the instructions in the GSTR-9 form, it is stated that the information of the outgoing supplies “may” be derived from the GSTR Form 1. Therefore, with regard to outgoing supplies and taxes payable in the annual return , the same is to be extracted from the GSTR 1 Form only. The entry supplies, the entry tax credit and the net tax paid in cash must be obtained from the GSTR 3B Form. But before presenting GSTR-9, the value according to GSTR-3B and GSTR-1 must be aligned. If there is a difference, then it must be adjusted to the subsequent declarations submitted until September 18 according to circular 26/26/2017-GST dated December 29, 2017.

 

It seems that the inherent assumption that was made when drafting the Form is that the GSTR Form 3B and the GSTR Form 1 are in tune with each other, which may not always be true. In the event that the values according to the Form GSTR 3B and GSTR 1 do not coincide with each other, a differential value of the tax payable and the tax paid according to the annual declaration can be reached. You can expect clarification from the government regarding the form of payment of any additional liability (if applicable). However, if faced with a situation of this type, the additional tax liability can be paid through Form GSTR 3B of the subsequent month / Form DRC-03.[/vc_column_text][/vc_tta_section][vc_tta_section title=”Whether GSTR-9 can be revised? ” tab_id=”1544164082474-26fd2abb-4490″][vc_column_text]No such option has been provided in the law till now.[/vc_column_text][/vc_tta_section][vc_tta_section title=”How much late fee is payable for late filing of GSTR-9? ” tab_id=”1544164127070-e1c72729-d383″][vc_column_text]According to section 47 (2) of the CGST Act, the late fee for the late filing of GSTR-9 is Rs.100 per day, subject to a maximum of 0.25% of the billing in a state / UT. A similar provision is also there in the SGST Law. Therefore, in total there will be a surcharge of Rs.200 per day subject to 0.50% of the turnover in a statement on the late submission of GSTR-9.[/vc_column_text][/vc_tta_section][vc_tta_section title=”What are the consequences of the failure to file GSTR-9? ” tab_id=”1544164225175-ebcab7ee-ada2″][vc_column_text]If one fails to file GSTR-9 then first late fees will be payable as discussed above. A notice may be issued u/s 46 requiring him to furnish such return within stipulated time.[/vc_column_text][/vc_tta_section][/vc_tta_accordion][/vc_column][/vc_row]