GSTR - 4 has been Enabled on GST Portal for all the Composition Taxpayers. GSTR-4 is a GST Return that has to be filed by a composition dealer. Unlike a normal taxpayer who needs to furnish 1/2 monthly returns, a dealer opting for the composition scheme is required to furnish only 1 return which is GSTR 4 once in a year by 30th of April, following a financial year. The time limit to file GSTR-4 annual returns for the FY 2019-20 by the composition dealers has been extended till 30th August, 2020.
Also, the taxpayers will have to file CMP-08 for the payment in every quarter of the year. The due date for each CMP-08 filing is 18th of every succeeding quarter.
Salient Features of GSTR 4 Return Form
1. GSTR 4 Returns will file on an annual basis for compounding Taxable persons. The last date for filing the GSTR- 4 (CMP-08) payment form is 18th of the month following the quarter. GSTR 4 (CMP-08) returns can be filed on 18th April, 18th July, 18th October, and 18th January and so forth
2.GSTR – 4 Form is filed by all the taxpayers who registered under the composition scheme
3. Business entities registered under the composition scheme will be required to pay taxes at fixed rates quarterly without availing input tax credit facility
4. The taxpayer will be required to show the total value of supplies made in a specific period and tax paid at the composition rate
5. The taxpayer will be required to insert vendor wise purchase details for the purchases from normal taxpayers, which will be automatically updated GSTR 4A Form from supply invoice uploaded by the opposite party in GSTR 1.
Watch this video for:
1. GSTR 4
2. What is GSTR 4?
3. What is the last date to file GSTR 4
4. When is GSTR 4 due
5. Last date to file GSTR 4 for FY 2019-20
6. GSTR 4 Live Demo
7. GSTR 4 Enabled on GST Portal
8. GSTR 4 Filing Started
9. GSTR 4 for Composition Taxpayers
10. Composition Dealers returns
11. Returns for GST Composition Dealers
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To know about Due Date of GSTR 4 for FY 2019-20 watch
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DISCLAIMER ********
This video is for creating awareness about the newly introduced tax reform GST. This video is merely a general guide meant for learning purposes only. All the instructions, references, content or documents are for educational purposes only and do not constitute a legal advice.*******
