New functionalities made available for TCS and Composition taxpayers - GST

01/09/2020

• 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 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. This can be done 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 the composition scheme will now be able to view and take necessary actions in their TDS/TCS credit received form. This facility is helpful for Restaurant Services provider's supply via E-com operators.
• 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 the 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.