All About GSTR-4
- Blog|GST & Customs|
- 2 Min Read
- By Taxmann
- |
- Last Updated on 14 June, 2021
Latest from Taxmann
Table of Content:
- What is Form GSTR 4?
- Who is required to file Form GSTR 4?
- When to file Form GSTR-4?
- Information to be filled in GSTR 4
- How to revise GSTR-4?
- What is the late fee for non-filing of GSTR-4?
Under the GST laws, GSTR-4 is a return that must be filed by the taxpayers opting for Composition Scheme on an annual basis, electronically on the GST Common Portal.
1. What is Form GSTR 4?
GSTR-4 Return is a statement of inward and outward supplies of a composite taxpayer which was earlier filed on a quarterly basis and now it is replaced by a quarterly statement in Form CMP-08 and it would be filed on annual basis.
2. Who is required to file Form GSTR 4?
The filing of Form GSTR-4 is mandatory for all composition taxpayers. This includes:
-
- Taxpayers who opted for composition scheme during migration to GST or initial registration under GST and have never opted out subsequently;
- Taxpayers who opted in for composition scheme before starting of any financial year since GST regime was introduced;
- Taxpayers who have opted in for composition but subsequently opted out of this scheme any time during the year.
3. When to file Form GSTR-4?
From F.Y. 2019-20, GSTR-4 is mandatory to be filed by the composition registered dealer. The Form GSTR-4 has to be filed by the 30th of the month after end of the financial year i.e. 30th April of the following financial year. However, due to COVID-19, the due date for the FY 2020-21 has been extended.
| Particulars | Period | Original Due date
|
Extended Due Date for FY 2020-21[1] |
| Form GSTR-4 (Annual Return for Composition Dealers) | F.Y. 2020-21 | 30-Apr-21 |
31-July-21 |
4. Information to be filled in GSTR 4
The following details are required to be furnished:
-
- Inward supplies from a registered supplier
- Inward supplies from unregistered supplier
- Details of Services Imported
- Tax rate wise inward and outward supplies
- Details of TDS/TCS credit received
5. How to revise GSTR-4?
The Form GSTR-4 cannot be revised after filing on the GSTN Portal. There is no option to revise the details filled once it is filed.
6. What is the late fee for non-filing of GSTR-4?
A late fee of Rs. 200 per day is levied if the GSTR-4 is not filed within the due date. The maximum late fee that can be charged cannot exceed Rs. 10,000. However, the Government has provided relaxation for the FY 2020-21. The maximum late fees shall be Rs. 500 where the total amount of tax payable in the return is nil and Rs. 2000 in other cases.
[1] Notification No. 10/2021- Central Tax dated 01-05-2021 read with Notification No. 25/2021 – Central Tax dated 01-06-2021 and Notification No. 21/2019- Central Tax dated 23-04-2019
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GSTR – 4 is mandatory for all composition dealers
GSR 4 is Mandatory for all composition Dealers
Late fees penalty reduction is from Fy 2021-22 and not Fy 2020-21