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In this article we will look at GSTR-4 Return filing for taxpayers registered under composition scheme. They are required to furnish details regarding summary of outward and inward supplies, import of services and supplies attracting reverse charge.
Table of Contents
All registered taxpayers who opted for the composition scheme should file this form. This includes the following:
The following don’t require filing GSTR-4:
GSTR-4 is filed on annual basis. The due date for filing this form is 30th April following the relevant financial year. Until financial year 2018-19, the due date was 18th of the month after the quarter end.
After a GSTR-4 is filed, then:
The Registration under composition scheme is only allowed for certain business activities. GSTR-4 Contains detail of goods total value of the sales and supplies made, details of TDS, Tax paid and details of purchase made under during a tax period.
We expect that more than 14 Million Business will apply for GST Registration and the Government is trying to promote the small and micro business and continue providing them a hassle-free compliance environment. Composition scheme has been launched towards the ease of doing business in India. Under this scheme a registered taxable person is required to furnish only one return every 3 months.
It may be noted that one cannot revise the form after GSTR-4 Return filing. In case of any query related to GST, contact Enterslice.
Read our article: GST for Companies under CIRP as per IBC, 2016
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