GST Return Filing
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GST Return Filing

The GSTR 4 is a return under GST that needs to be filed once every 3 months by registered taxpayers who have signed up for the composition scheme (those who opt for this scheme are known as compounding vendors). They would be required to pay taxes at a fixed rate without any input tax credit facilities.

 The taxpayer is only required to indicate the total consolidated value of supplies made during the period and the tax paid at the composition rate.
 The taxpayer will also need to declare invoice-level purchase information for the purchases from normal taxpayers, which will be auto-drafted in Form GSTR 4A from the supply invoice uploaded by counter-party taxpayers in GSTR 1.

GSTR 4 has a total of 13 headings, the taxable person need not worry as most of these will be pre-filled. But we need to understand certain terms:

 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.

When to file GSTR-4?

This return can be filed as soon as the relevant quarter ends. The last day to file the GSTR-4 is the 18th of the month following the end of the quarter. For example, if you are filing the GSTR-4 for the July-September quarter, you have to file it before the 24th of December, 2017.

Who should file the GSTR-4 form?

All the taxpayers who have registered under the composition scheme are required to file the tax return. The persons who are not eligible to file GSTR-4 are:

 Non-resident Taxable Persons
 Taxpayers who are liable to collect TCS
 Input Service Distributors(ISD)
 The Taxpayers who are liable to deduct TDS
 Composition Dealers
 Compounding taxable person
 Suppliers of OIDAR

Prerequisites for filing GSTR-4

 You have to be a registered taxpayer and a composition vendor under the GST.
 The aggregate turnover of your business must be less than Rs. 75 lakh per annum.
 You should be involved in intrastate trade only.
 You need to keep track of all the purchases and imports you have made during this quarter.

GSTR-4 late fees and Penalty

If GSTR-4 is not filed, the penalty of Rs 200 per day is levied. The maximum penalty limit is Rs. 5000

Also, the taxpayer cannot file the current quarterly returns unless they have filed the previous quarter returns.

As per Notification No. 73/2017 – Central Tax late fees for GSTR-4 is brought down to Rs. 50 per day in case of default. Also, the late fee for the filing of NIL GSTR-4 is brought down to Rs. 20 per day in case of delay.

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