NEW FUNCTIONS FOR TCS AND COMPOSITION TAXPAYERS RELATED TO GSTR-8 NOW AVAILABLE AT GST PORTAL

1. New provision has come at GST portal where now E-Commerce operators liable to Collect Tax at Source (TCS) under section 52, can now amend table 4 (i.e. amendment table) of Form GSTR-8 multiple times W.E.F. (With Effect From) 01/09/2020. Before this amendment was allowed only once.
2. The above facility of view and amendment of table 4 of GSTR-8 has been extended to composition taxpayers also.
3. Now 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.
4. E-Commerce operators would now be able to add GSTIN of such (mentioned in point 3) composition suppliers, in their Form GSTR-8 and file the Form.
5. 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.
6. For accepted transactions at table 4 of Form GSTR-8, the amount will be credited to cash ledger of composition taxpayers, and for rejected transactions, the amount will be shown to E-Commerce operators for correction.
7.