New Facility in GSTR 8 for TCS & Composition Taxpayers on GST Portal

Recently the goods and services network portal has made some facilities available for all the composition and tax collected at source (TCS) taxpayers in the form. This has made some relaxation in the filing procedure for the taxpayers. Here we have detailed those introduction changes in the post, Check out them:

1. Preparation to proceed the amendment, varied times, in Table 4 of form GSTR 8 Get to know an easy guide to file online GSTR 8 form for TCS (Tax Collected at Source) collector in India. Also, we included GSTR 8 form due date, features, penalty, etc. Read More

• Earlier, if no step were practised upon TCS features, auto-populated in TDS/TCS credit form, through every supplier or if the same were rejected by them in the said form, the TCS (e-commerce executives) could change the features only once.
• Based upon inquiries derived from stakeholders, the limitation of changing the transaction particulars only once, in table 4 (i.e. amendment table) of form GSTR 8, has immediately been removed.
• Therefore, aspects of table 4 (i.e. amendment table) of form GSTR 8, can now be changed various times, by e-commerce workers likely to assemble tax at reference beneath section 52, while registering their form GSTR 8.

2. TCS facility stretched to composition taxpayers

• The taxpayers below composition scheme, who are authorised to proceed supplies through E-Commerce Operators, e.g. Restaurant Services, will presently be capable to see and hold important steps in their TDS/TCS credit received Learn step by step process of filing TDS & TCS Credit Received on official GST Portal. Also, we covered several topics like the purpose of the form, who must file, due date, etc. Read More form.
• E-commerce executives would presently be capable to join GSTIN of such composition suppliers, in their form GSTR 8 and file the Form.
• The amount of tax received at source, described by E-Commerce Operators in their Form GSTR-8, will immediately be populated to ‘TDS /TCS credit received’ form of individual composition taxpayers.
• The amount so proclaimed by e-commerce operators will instantly be available to individual composition taxpayers, for receiving or refusing the same, in their ‘TDS and TCS credit earned’ form.
  • For accepted transactions, the amount would be credited to the cash ledger of composition taxpayers, after the successful filing of ‘TDS/ TCS Credit received’ form.
  • For declined transactions, the amount would be displayed to e-commerce executives for editing.