GSTR 4

Here you will get information about GSTR 4, who shouldn't file, Due date, Late fee and Procedure.

What is GSTR 4?

The GSTR 4 return form is filled by the taxpayers who are eligible and have opted for the composition schemes. Unlike a normal taxpayer, who is required to submit 3 monthly returns, the composition scheme dealer has to file GSTR 4 only once a year, that is, 30 April after a financial year.

Who Shouldn’t File GSTR 4 Form?

The GSTR 4 composition is for dealers. Therefore, the following are exempted from filing GSTR 4.

• Non-resident taxable person

• Input Service distributor

• Casual Taxable person

• Persons liable to collect TCS

• Persons liable to deduct TDS

• Suppliers of Online Information and Database Access or Retrieval (OIDAR) services.

When is GSTR 4 due date?

The due date for filing GSTR 4 is 30 April.

For example, GSTR 4 for the fiscal year 2020-21 is payable by 30 April 2021.

Late Fees and Penalty

A penalty of ₹ 200 / day is prescribed to be levied if the GSTR 4 is not filed. The maximum penalty that can be charged is ₹ 5,000. If GSTR 4 is not filed on time, the taxpayer will not be able to file the return for the next quarter as well.

Important Terms Frequently Used in GSTR 4

• GSTIN – Goods and Services Taxpayer Identification Number

• UIN – Unique Identification Number

• UQC – Unit Quantity Code

• HSN – Harmonised System of Nomenclature

• SAC – Services Accounting Code

• POS – Place of Supply of Goods and Services

• B2B – From one registered person to another registered person

• B2C – From registered person to unregistered person

Filing procedure of GSTR 4

Part 1 to Part 3 – General Information

GSTIN - 15 Digits GSTIN Number.

Name - Legal Name of the Registered Person and Trade name (if any)

Annual Turnover in the preceding Financial Year

Part 4 - Inward supplies including supplies on which tax is to be paid on reverse charge

Part 5 - Amendments to details of inward supplies furnished in returns for earlier tax periods in Table 4 [including debit notes/credit notes and their subsequent amendments]

Part 6 – Tax on outward supplies made (Net of advance and goods returned)

Part 7 – Amendments to Outward Supply details furnished in returns for earlier tax periods in Table No. 6

Part 8 – Consolidated Statement of Advances paid/Advance adjusted on account of receipt of supply.

Part 9 – TDS Credit received

Part 10 – Tax payable and paid

Part 11 – Interest, Late Fee payable and paid

Part 12 – Refund claimed from Electronic cash ledger

Part 13 – Debit entries in cash ledger for tax /interest payment [to be populated after payment of tax and submissions of return]

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