Return Provisions in respect of TCS Section 52(4) to 52(7) - GST Ready Reckoner - GST

Return Provisions in respect of TCS Section 52(4) to 52(7) Monthly return in respect of TCS [ section 52(4) ] A monthly statement in Form GSTR-8 needs to be filed electronically within 10 days from the end of the month of the collection with the following details Outward supplies of goods or/and services. Return/ Inward supplies of goods or/and services. The amount of TCS collected during the month. For example, if the supply was made through an e-commerce operator in the month of September 2018 but the consideration for the same has been collected in the month of October 2018, then in such cases, TCS will be collected and reported in the return for the month of September 2018. Annual Return in respect of TCS [ section 52(5) ] An annual statement in Form GSTR 9B needs to be filed electronically before 31st December from the end of the financial year with the following details of the whole financial year Outward supplies of goods or/and services. Return/ Inward supplies of goods or/and services. The amount of TCS collected during the year. Note: It may be noted that provisions of TCS applicable to e-commerce operators were made effective from 1st October 2018 and hence the annual return GSTR 9B for the financial year ending 2017-18 need not be filed). Revised Return In respect of errors omission [ section 52(6) ] if any error/omission or incorrect details were filed in the monthly statement (GSTR-8) and later it comes to the notice of the e-commerce operator ( not by way of scrutiny, audit, inspection or enforcement action by the tax authorities) then such mistake can be rectified in the next monthly statement in the month the mistake is noticed. But such rectification will be subject to payment of interest u/s 50(1) of the CGST Act. Note: No such rectification of any omission or incorrect particulars shall be allowed after 30th day of November following the end of the financial year or the actual date of furnishing of the relevant annual statement, whichever is earlier. Impact of TCS on Electronic Operator The supplier will receive the consideration for the sale/supply from the e-commerce operator After deduction of TCS as per section 52 of CGST Act and After the deduction of the commission charged by the e-commerce operator for providing the platform for sale. As per section 52(7) of the CGST Act , the TCS collected by an e-commerce operator can be claimed as a credit in the electronic cash ledger of the supplier.