All About For Amazon Registered Vendor Any Seller or Vendor is required to get Online GST Registration and be compliant simultaneously to be able to
All About For Amazon Registered Vendor
Any Seller or Vendor is required to get Online GST Registration and be compliant simultaneously to be able to sell on any E-Commerce platforms like amazon, flipkart etc.. Here is a complete guide on how to file returns if you want to sell goods on any of these platforms.
Is Online GST Registration and Return filing mandatory for Amazon Vendors/Sellers
Everyone has to pay indirect taxes on all products and services, the most basic of which is the GST filing. It is the process of collecting taxes on behalf of the government.
With the coming of GST, one of the major change seen was the coming for online sellers and marketplaces and the same is that e-commerce platforms like Flipkart, Amazon, etc are mandatorily required to deduct 1% TCS (Tax Collected at Source) while making payments to their suppliers and the same gets deposited by these platforms as GST liability of seller with the Government. The concept is that the seller is selling directly to the buyer. Amazon or other e-commerce platforms is only like a commission agent in between. Hence, the seller is liable to pay GST and not amazon.
This TCS which is collected by the E-commerce platform can be claimed as credit by the online seller by filing the monthly returns under GST. Therefore, online GST registration and filing are mandatory.
GST Return Filing for E-commerce Platforms
GST returns provisions for online sellers are almost similar to those of offline sellers. You have to file GSTR-1, GSTR-3B for every month or quarter, based upon your selection in QRMP preference. For online sellers, you have to additionally file GSTR 8 which is a prescribed return for E- Commerce operators. You may also be required to file invoice furnishing facility (IFF) if you are filing returns on a quarterly basis. Below is the
|
Return/Form |
Description | Frequency |
Due Date |
|
GSTR – 1 |
Outward sales by seller | Monthly | Monthly – 11th of every month
Quarterly – 13th of the month succeeding the quarter |
|
GSTR – 2 |
Purchases made by seller | Monthly |
15th of next month |
|
GSTR – 3B |
GST Monthly return along with the payment of tax | Monthly |
Monthly – 20th of the every month from January 2021 onwards
Quarterly – 22nd or 24th of the month next to the quarter (For taxpayers opted into the QRMP scheme.) |
|
GSTR – 8 |
GST Return for E-commerce Operator | Monthly |
10th of next month |
|
GSTR – 9 |
GST Annual Return. It contains all the deets received by e-commerce vendors in monthly returns filed during the FY. | Yearly |
31st Dec of next financial year |
Conclusion
Though the compliance under GST has increased for the E-commerce industry, it still improves the market for the local suppliers as they can sell in any state with the same tax rates. Therefore, it has wide scope for every business planning to take their business online. This promotes more sellers to go online and provide best services to the customers. Online sellers should be aware of these ecommerce platform rules under GST, and strategically plan their moves for a smooth flow of all related operations.
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