Selling on Amazon, Flipkart, or Meesho triggers specific GST obligations: mandatory registration from the first sale, TCS deduction at 1%, monthly GSTR-8 matching, and multi-state registration for warehouse storage. A CA firm ensures that these obligations are met while maximising ITC and TCS credits.
This article explains the e-commerce compliance services a CA firm provides.
Registration
- Section 24(ix): Mandatory registration from the first sale.
- Multi-state registration: Separate GSTIN for each state with warehouse storage.
- VPOB: Virtual Principal Place of Business for multi-state registration.
TCS Reconciliation
- GSTR-8 matching: Matching platform TCS reports with GSTR-2B.
- Electronic cash ledger: Accepting TCS credit on the GST portal.
- GSTR-3B claim: Claiming TCS credit against output liability.
Marketplace Fee Reconciliation
- Commission and fees: Verifying GST invoices from marketplaces.
- ITC claims: Claiming ITC on marketplace commission and platform fees.
- GSTR-2B matching: Ensuring fees are reflected in GSTR-2B.
Returns and Cancellations
- Credit notes: Issuing credit notes for returns.
- TCS reversal: Reversing TCS on returns.
- ITC reversal: Reversing ITC on returned goods.
Conclusion
E-commerce GST compliance requires monthly reconciliation across multiple marketplaces, states, and GSTINs. A CA firm ensures that TCS credits are claimed, ITC is optimised, and returns are filed correctly.
At Anuj Desai & Associates, we provide end-to-end GST compliance services for e-commerce sellers. Our team handles registration, TCS reconciliation, and return filing.
For a confidential consultation, contact us at office@anujdesaiassociates.com or call 9619456656. Visit our website at https://anujdesaiassociates.com or connect with our founder on LinkedIn at linkedin.com/in/ca-anuj-desai-122547230.