Hello Everyone. I am your Friend CA Devesh Thakur. Today in this video we will see if you are an online seller on pepperfry what are the various compliances which you need to adhere on a monthly basis? We will get to know – how you can download the monthly commission invoice how to calculate your TDS liability on the basis of monthly commission invoice. when to pay TDS, when to file TDS return when to Issue Form 16A – TDS Certificate how to claim your TDS from pepperfry. Download and Reconcile your data with GSTR – 1 report. GSTR 1 report includes all the intrastate and interstate data which you have made in the respective month. you need to reconcile your accounting entries with this GSTR 1 report so as to reconcile your sales return basically. Pepperfry deducts TDS on monthly payment made to sellers. how to claim such TCS in your monthly GST return we have made a separate video on that, the link is provided under the description. This is our pepperfry seller dashboard Finances>Commission Invoice For TDS purpose you need to download this monthly report so as to comply with the statutory compliances we have taken an example for the month of August 2019 Click on Submit Save the file as per your desired location. For GST compliance purpose, again go to seller dashboard. GST>GSTR-1 Report Select the period for which you need to file GST return. we have selected August 2019 period for such report the report will be sent to you by email. now we will study these two reports for accounting and GST purpose. This is the pepperfry commission invoice for the month of August 2019 invoice dated 31.08.2019 It is recommended to mentioned correct invoice particulars as mentioned under the invoice. From this year onwards pepperfry is charging commission under platform fees last year it was charging shipping and handling fees and platform fees separately. Platform fees charged by pepperfry cover under section 194H TDS @5% If your annual commission fees exceed Rs.15,000/- then you need to deduct TDS u/s 194H @5% TDS to be deducted from the date of credit or date of payment whichever is earlier. that means when you have credited the pepperfry ledger in your books of accounts or the date of payment against such invoice. TDS to be deducted from the date of the earlier event. In this case, we have credited the pepperfry ledger on 31.08.2019 we need to deduct TDS on 31.08.2019 which need to be paid on or before the 7th of September we will claim input IGST charged by pepperfry in our GST return. kindly see the note below TDS should be deducted u/s 194H – TDS on commission/ brokerage of the income tax act. This is pepperfry credit note do mention the credit note correctly in your accounting software and GST return. in case of mismatch, credit issues might arise. pepperfry has issued a credit note for the month of August 2019 in which it has shown sales return i.e reversal of platform fees of Rs.145/- for calculating TDS liability we will deduct credit note amount from the commission invoice to arrive at the net amount chargeable to TDS [email protected]% deducted TDS to be paid on or before the 7th of the following month. Note on credit invoice is the same as on commission invoice for more clarity to the seller. In case of pepperfry you need to deduct TDS only u/s 194H @5%. TDS return filing period and due dates. Form 16A – when to issued TDS Certificate The statement here refers to your quarterly TDS return. In case of 1st Qtr due date of filing the TDS return was 31st July you need to issue TDS Certificate on or before 15th of August GSTR-1 report downloaded from pepperfry for the month of August 2019 The report which will download for the respective month from pepperfry portal need to be reconcile with your monthly accounting system. to make a check on sales and sales return. in our case, there is only 1 sale transaction for the month of August 2019 Do recheck each and every particular as mentioned in the excel. basically, in the case of online selling, there is major concern about the sales returns. to make your accounting and GST return up to mark do reconcile. in case of lack of reconciliation of data, online sellers ending up paying more tax on gross sales which excludes the exact sales return. After issuing Form 16A – which you have digitally signed. you need to send on the corresponding email Ids of pepperfry. either your manager email id or any other email ID from which you regularly receive communication from pepperfry. so that TDS reimbursement process get started. Thank you guys for watching this video.