{"id":1019,"date":"2020-09-04T05:23:13","date_gmt":"2020-09-04T05:23:13","guid":{"rendered":"http:\/\/snpaul.com\/wp57\/?p=1019"},"modified":"2020-09-04T05:23:13","modified_gmt":"2020-09-04T05:23:13","slug":"new-functionalities-made-available-for-tcs-and-composition-taxpayers-gst","status":"publish","type":"post","link":"https:\/\/snpaul.com\/?p=1019","title":{"rendered":"New functionalities made available for TCS and Composition taxpayers &#8211; GST"},"content":{"rendered":"<div class=\"row\">\n<div class=\"col-xs-12\">\n<p data-ng-bind=\"news.date\">01\/09\/2020<\/p>\n<\/div>\n<\/div>\n<div class=\"row\">\n<div class=\"col-xs-12\">\n<p>1.<u>Provision to make amendment, multiple times, in Table 4 of Form GSTR-8<\/u><\/p>\n<ul>\n<li>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.<\/li>\n<li>Based on requests received from stakeholders, the restriction of amending the transaction details only once, in the table 4 (i.e. amendment table) of Form GSTR-8, has now been removed.<\/li>\n<li>Thus, details of table 4 (i.e. amendment table) of Form GSTR-8, can now be amended multiple times, by e-commerce operators liable to collect tax at source under section 52, while filing their Form GSTR-8.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>2.<u>TCS facility extended to composition taxpayers<\/u><\/p>\n<ul>\n<li>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.<\/li>\n<li>E-commerce operators would now be able to add GSTIN of such composition suppliers, in their Form GSTR-8 and file the Form.<\/li>\n<li>The amount of tax collected at source, reported by E Commerce Operators in their Form GSTR-8, will now be populated to \u2018TDS \/TCS credit received\u2019 form of respective composition taxpayers.<\/li>\n<li>The amount so reported by e-commerce operators will now be available to respective composition taxpayers, for accepting or rejecting the same, in their \u2018TDS and TCS credit received\u2019 form.\n<ul>\n<li>For accepted transactions, the amount would be credited to cash ledger of composition taxpayers, after successful filing of \u2018TDS\/ TCS Credit received\u2019 form.<\/li>\n<li>For rejected transactions, the amount would be shown to e-commerce operators for correction.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p data-ng-bind-html=\"news.content | to_trusted\">Thanking you,<br \/>\nTeam GSTN<\/p>\n<p data-ng-bind-html=\"news.content | to_trusted\"><a href=\"https:\/\/www.gst.gov.in\/newsandupdates\/read\/397\">Read More<\/a><\/p>\n<\/div>\n<\/div>\n ","protected":false},"excerpt":{"rendered":"<p>01\/09\/2020 1.Provision to make amendment, multiple times, in Table 4 of Form GSTR-8 Earlier, if no action was taken on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[44,17,45],"tags":[],"_links":{"self":[{"href":"https:\/\/snpaul.com\/index.php?rest_route=\/wp\/v2\/posts\/1019"}],"collection":[{"href":"https:\/\/snpaul.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/snpaul.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/snpaul.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/snpaul.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1019"}],"version-history":[{"count":1,"href":"https:\/\/snpaul.com\/index.php?rest_route=\/wp\/v2\/posts\/1019\/revisions"}],"predecessor-version":[{"id":1020,"href":"https:\/\/snpaul.com\/index.php?rest_route=\/wp\/v2\/posts\/1019\/revisions\/1020"}],"wp:attachment":[{"href":"https:\/\/snpaul.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/snpaul.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/snpaul.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}