Form GSTR-4 is now available on the GSTN Portal

Last Updated On: Aug. 21, 2020, 10:53 p.m.
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FORM GSTR-4(ANNUAL RETURN) 

Form GSTR 4 (Annual return) is a yearly return to be filed, for each financial year, by taxpayers who have opted for composition scheme, for any period said in the financial year.

Now, GSTR-4 has been made available on GST Portal which has to be filed by all the composition taxpayers on or before the extended due date i.e 31.08.2020

 

Who needs to file GSTR-4?

All registered taxpayers who have opted for composition scheme under GST, for any period during the financial year, need to file Form GSTR-4 (Annual Return).

  • A taxpayer who has opted for composition scheme since registration and have never opted out subsequently; and
  • A taxpayer who has opted in for composition scheme before starting of the financial year; and
  • A taxpayer who has opted in for composition but subsequently opted out any time during the year.

 

Who doesn’t need to file GSTR-4?

  • A regular taxpayer who have not opted in composition scheme for any period during the financial year
  • Non-resident taxable persons
  • OIDAR
  • Input service distributor
  • Casual Taxable Person
  • Persons required to Deduct Tax at Source u/s 51
  • Persons required to Collect Tax at Source u/s 52
  • UIN holder

 

Pre-conditions for filing of Form GSTR-4 (Annual Return) are:

  • The taxpayer must have been registered in the relevant financial year and opted for a composition scheme for even a day during the financial year.
  • The taxpayer must have filed all applicable returns i.e. Form CMP-08 quarterly forms of the relevant financial year before filing the Form GSTR-4 (Annual Return).

 

NIL form GSTR-4 can be formed in the following cases:

  • NOT made any outward supply
  • NOT received any goods/services
  • Have NO other liability to report
  • Have filed all Form CMP-08 as Nil
  • There is no late fee to be paid for Form GSTR-4

 

The Table of GSTR-4 comprises of

  • 4A. Inward supplies from the registered supplier (other than reverse charge): To add details of inward supplies received from a registered supplier (other than reverse charge)
  • 4B. Inward supplies from the registered supplier (reverse charge): To add details of inward supplies received from a registered supplier (reverse charge)
  • 4C. Inward supplies from unregistered supplier: To add details of inward supplies received from an unregistered supplier
  • 4D. Import of Service: To add details of import of service
  • 5. Summary of CMP-08: To view auto-drafted details provided in filed Form CMP-08 for the financial year
  • 6. Tax rate wise inward and outward supplies: To enter tax rate wise details of outward supplies/ inward supplies attracting reverse charge during the financial year
  • 7. TDS/TCS credit received: To view details related to TDS/TCS credit received

 

To avoid the confusion among the composition taxpayers let us compare the difference between the GSTR-4 and GSTR-9A

Sl.No: GSTR-4(NEW) GSTR-9
1. It is a Return for Financial Year prescribed u/s.39 r.w.r 6 2 To be filed on or before 30th  April. (Now extended up to 31.08.2020 for F.Y 2019-20) It is an Annual Return prescribed u/s. 44 r.w.r 80 to be filed for every Financial Year.
2. Mandatory w.e.f F Y: 2019-20 onwards. It has been made optional for F Y:2018-19 but Mandatory for FY: 2019-20 to be filed by 31.12.2020 in addition to GSTR-4.
3. Inward Supplies including supplies on which tax is to be paid on  reverse charge are to be Furnished at INVOICE LEVEL (As per GST portal to be furnished at GSTIN & RATE wise entries) Here consolidated figures for Inward Supplies are to be furnished (Taxable Value & Taxes break up).  Rate wise summary is not required.
4. No such provision is available here. Particulars of the transactions for the previous FY declared in returns of April to September of current FY or up to the date of filing of annual return of previous FY whichever is earlier has to be furnished in this Return.
5. No such requirement in this Return. Particulars of Refunds & Demands (claimed, rejected, etc) are to be filled under Other Information tables.
6. No such requirement in this Return. Details of input tax credit reversed or availed To be disclosed here if a Taxpayer opt-in/out of Composition Scheme.

 

To file your GSTR-4 you can do it yourself by following this path Services > Returns > Annual Return to file Form GSTR-4  or you can connect with us at LegalSuvidha

 

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