Is filing Gstr 4 Mandatory?
Yes, it is compulsory to file GSTR-4 (Annual) if: You were a composition taxpayer anytime during a part of the financial year, or. Your GST registration got cancelled anytime during the financial year, or. You voluntarily opted out of the composition scheme during that financial year.12-Jan-2022
Rs. 1.5 crores
Is Gstr 4 filed quarterly?
GSTR-4 is a quarterly return that must be filed by those registered under the GST Composition Scheme. Businesses registered under the GST Composition Scheme, are required to file one return every quarter instead of 3 returns every month and pay a flat GST tax based on the sales turnover.
30th of April
Who fills Gstr 4 return?
Form GSTR-4 (Annual Return) is an yearly return to be filed once, for each financial year, by the taxpayers who have opted for composition scheme during the financial year, or were in Composition scheme for any period, during the said financial year, from 1st April, 2019 onwards.
Who are required to file Form GSTR-4 Annual Return: All registered taxpayers who have opted for composition scheme or were under composition scheme under GST, for any period during a financial year, starting from 01.04. 2019, need to file Form GSTR-4 Annual Return, annually.
What is penalty for not filing Gstr 4?
If your GSTR 4 is not filed by the due date, you are liable to pay a late fee of Rs. 50 per day post the GSTR 4 due date or Rs. 20 per day in case of a nil return, up to a total of Rs. 5,000.
Is late fee waived for Gstr 4?
The government waived the late fee payable for delay in furnishing from GSTR-4 for the financial year 2021-22 till June 30, 2022.
No, GSTR4 cannot be revised. The details which have been entered incorrectly can be amended in the next period GSTR-4 return. GSTR4 provides for amendment of the details furnished in previous tax periods.
Is Gstr 4 date extended?
47th GST Council Meeting – 29th June 2022 “Form GSTR-4 Annual Return by Composition Taxpayers, for the FY 2019-20, is now available for filing.” “Annual return GSTR 4 due date extended to 31st Aug 2020 for the F/Y 2019-20 vide notification no. 59/ 2020”.30-Jun-2022
Note on Form GST CMP-08 and Form GSTR-4 Since FY 2019-2020, composition taxpayers have to pay the liability through Form GST CMP-08 on a quarterly basis while GSTR-4 Return is required to be filed on annual basis after the end of a financial year.
What is the difference between Gstr 4 and 9a?
GSTR 4 is a return under GST that needs to be filed once every 3 months by registered tax payers who have signed up for the composition scheme (those who opt for this scheme are known as compounding vendors). But GSTR 9 is an Annual Return. But GSTR 4 has to be filed on 18th of the month succeeding the quarter.
Form GST ITC-04 is a declaration form to be furnished by registered persons (Principal), showing the details of inputs or capital goods dispatched to or received from a job worker in an applicable tax period.
What is the due date for filing GSTR 4 for FY 2021-22?
30th April, 2022
CGST ACT 2017 The Government may, by notification, waive in part or full, any penalty referred to in section 122 or section 123 or section 125 or any late fee referred to in section 47 for such class of taxpayers and under such mitigating circumstances as may be specified therein on the recommendations of the Council.
Who needs Gstr 9A?
Form GSTR-9A is an annual return to be filed once for each financial year by taxpayers who have opted for the composition scheme any time during the said financial year.
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.14-Jun-2021
Why is Gstr 4 negative?
A negative Liability Statement refers to a report available on the GST portal that shows any negative summary in Form CMP-08 for the present quarter that will be carried forward to the next quarter for adjustment against the next quarter's liability.08-Jul-2022
GSTR-8 is a type of GST return that must be filed by all e-commerce operators registered under GST for collection of TCS. GSTR-8 filing will comprise of details like the amount of tax collected at source from e-commerce sellers and their GSTIN.
Who will file CMP-08?
Taxpayers who either have registered as composition taxable person through Form GST REG-01 or taxpayers who have opted for composition levy through Form GST CMP-02, need to file Form GST CMP-08.
Is filing Gstr 4 Mandatory?