Is GST required for ecommerce?
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Is GST required for ecommerce?
Yes, registration under GST is mandatory for all e-commerce operators irrespective of the sales turnover. Hence, prior to commencing business as an ecommerce operator or within 30 days of commencing business, all ecommerce operators are required to be registered under GST.
What type of GST returns e-commerce operators need to file?
GSTR-8
GSTR-8 is a return to be filed by the e-commerce operators who are required to deduct TCS (Tax collected at source) under GST. GSTR-8 contains the details of supplies effected through e-commerce platform and amount of TCS collected on such supplies.
What is the GST rate for ecommerce business?
e-Commerce aggregators are responsible under the GST law for collecting and depositing tax at the rate of 1\% on each transaction under the Section 52 of the CGST Act. Any dealers/traders selling goods/services online would get the payment after deduction of 1\% tax.
Who is considered e-commerce operator under GST?
An e-commerce operator is also defined to include every person who directly or indirectly owns, operates or manages an electronic platform that facilitates the supply of any goods and services. Under the TCS mechanism, an e-commerce company is required to deduct tax the rate of 1\% of net value of taxable supplies.
How do I register for eCommerce GST?
How you can register as an E-commerce Operator in India
- Fill the E- application form REG-07 on the common portal.
- The application should be duly signed or verified through EVC (Electronic Verification Code)
- Submit the form, either directly or from the facilitation centres notified by the Commissioner.
How do I file an e commerce return?
Every E-commerce operator, who is required to collect tax at source (TCS) under GST, shall furnish a statement in form GSTR-8 electronically through the Common Portal. This return shall contain details of supplies affected and the amount of tax collected. GSTR-8 is required to be filed before 10th of next month. 6.
Can I file GST return myself?
Individual taxpayers will be using 4 forms for filing their GST returns such as the return for supplies, return for purchases, monthly returns, and annual return. Small taxpayers who have opted for a composition scheme will have to file quarterly returns. All filing of returns will be done online.
Do you pay taxes on eCommerce?
The basic rule for collecting sales tax from online sales is: If your business has a physical presence, or “nexus”, in a state, you must collect applicable sales taxes from online customers in that state. If you do not have a physical presence, you generally do not have to collect sales tax for online sales.
Can e-commerce operator take ITC?
It amounts to support services, falling under Tariff heading 9985, and shall attract GST at the rate of 18\%. The tax shall be charged in the invoices raised against supplier of goods or services; and such suppliers can avail ITC on such GST charged, if otherwise eligible.