Step 1: Write second polynomial below the first one. Making sure like terms are lined up.
$$ \begin{array}{lrrrr} & 3y^3 & & 5y & 8 \\ \color{red}{ - } & y^3 & -4y^2 & 3y & \\ \hline \end{array} $$Step 2: Change ALL the signs in the second row.
$$ \begin{array}{lrrrr} & 3y^3 & & 5y & 8 \\ \color{red}{ - } & -y^3 & 4y^2 & -3y & \\ \hline \end{array} $$Step 3: Combine like terms (add each column):
$$ \begin{array}{lrrrr} & 3y^3 & & 5y & 8 \\ \color{red}{ - } & -y^3 & 4y^2 & -3y & \\ \hline & 4y^3 & -4y^2 & 8y & 8 \end{array} $$