The Central Board of Indirect Taxes and Customs (CBIC) reminded the GST Taxpayers and E-Commerce Operators who Deduct TDS to file GSTR-7 and GSTR-8 Return respectively for August, 2021 by September 10, 2021.
GSTR-7 is a monthly return to be filed by the persons required to deduct Tax Deducted at Source (TDS) under the Goods and Services Tax (GST). Every GST registered person required to deduct TDS under GST shall furnish a return in Form GSTR-7 by the 10th of next month. It contains details of TDS deducted, TDS payable, TDS refund, etc.
GSTR-8 is a monthly return to be filed by e-commerce operators registered under the GST.
If the GST return is not filed on time, then a penalty of Rs 100 under CGST and Rs 100 under SGST shall be levied, and the total will be Rs 200 per day. However, the maximum late fee should not exceed Rs 5,000. There is no late fee on IGST in case of delayed filing. Along with late fees, interest has to be paid at 18% per annum. It has to be calculated on the TDS to be paid. The period for interest calculation will be from the next day of the due date of filing to the payment date.
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