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).
Who doesn’t need to file GSTR-4?
Pre-conditions for filing of Form GSTR-4 (Annual Return) are:
NIL form GSTR-4 can be formed in the following cases:
The Table of GSTR-4 comprises of
To avoid the confusion among the composition taxpayers let us compare the difference between the GSTR-4 and GSTR-9A
|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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