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Any person who operates, manages or owns digital/electronic facility or platform for electronic commerce. Electronic commerce operators are required to collect (TCS) Tax collection at source at the rate of one percent (1%) of the net sales of goods or services made through their platform.

GST registration is mandatory for both e-commerce operators and persons supplying Goods or services through an e-commerce operator. All the traders /dealers selling Goods or services online would need to get registered under GST even if their turnover is less than 20lakhs for claiming the tax deducted by Ecommerce operators.

REGISTRATION AS TCS DEDUCTOR IN GST

The E-commerce operator like Flipkart, Amazon etc who sells the goods/services for other vendors through their portal are required to register with GSTN as TCS Deductor whose registration will be started by 25th Of July 2017.

TCS APPLICABILITY

TCS is applicable on certain transactions as per Income Tax Act. But GST TCS will be calculated on the value of the goods/services supplied through the E-commerce operator as per GST Act.

The E-commerce operator is required to deposit the amount in the Government account. GSTR-8 has to file, once GSTR-8 is filed the details are processed by the GST portal and credit is provided to the supplier in the electronic cash ledger.

GSTR-8 FOR TCS

The GSTR-8 should match with the given details of supplies including the value of supplies, submitted by the e-commerce operators in GSTR-1 filing made by the supplier. TCS statements should be filed correctly by the e-commerce operator.

It should be filed by all e-commerce operators by the 10th of the following month.

All ecommerce operators are required to file an Annual TCS statement by the 31ST December of every financial year.

EXAMPLE

If the product is sold at Rs.1000/- through an e-commerce operator like myntra, it would deduct tax @ 1% of the net value of Rs.1000/- i.e. Rs.10/- and remit the same to the Government account.

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