GST Annual Return (Form: GSTR-4)

GST Annual Return (Form: GSTR-4) ?

Form GSTR-4 (Annual Return) is a yearly return to be filed once, for each financial year, by taxpayers who have opted for composition scheme, for any period during the said financial year. (Notification No. 02/2019– Central Tax (Rate), dated the 7th March, 2019.) The taxpayers are required to furnish details regarding summary of outward supplies, Inward supplies, Reverse charge, tax payable thereon etc. Such taxpayers are also required to report summary of import of services and supplies attracting reverse charge etc. This return is required to be filed for the period starting from 01st April 2019.

Who needs to file Form GSTR-4 (Annual Return)?

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). This will include a taxpayer –

  • who have opted for composition scheme since registration and have never opted out subsequently;
  • who have opted in for composition scheme before starting of the financial year; and
  • who have opted in for composition but subsequently opted out any time during the year.

Who doesn’t need to file Form GSTR-4 (Annual Return)?

Following persons are not required to file Form GSTR-4 (Annual Return):

  • Regular taxpayer who have not opted in composition scheme for any period during the financial year
  • Non-resident taxable persons
  • OIDAR
  • Input service distributor
  • Casual Taxable Person
  • Persons required to Deduct Tax at Source u/s 51
  • Persons required to Collect Tax at Source u/s 52
  • UIN holder

Is it mandatory to file Form GSTR-4 (Annual Return)?

Yes, it’s mandatory for all composition taxpayers to file Form GSTR-4 (Annual Return).

Pre-conditions for filing of Form GSTR-4 (Annual Return) are:

  • Taxpayer must have been registered in the relevant financial year and opted for composition scheme for even a day during the financial year.
  • Taxpayer must have filed all applicable returns i.e. Form CMP-08 quarterly forms of the relevant financial year (Y) before filing the Form GSTR-4 (Annual Return).

Can Nil Form GSTR-4 (Annual Return) be filed for the Financial year?

Yes, a composition dealer can file NIL Form GSTR 4, if he has: –

  • NOT made any outward supply
  • NOT received any goods/services
  • Have NO other liability to report
  • Have filed all Form CMP-08 as Nil

There is no late fee to be paid for Form GSTR-4

Form GSTR-4 (Annual Return) comprises of following tables:

  • Inward supplies from registered supplier (other than reverse charge):

Here one needs to add details of inward supplies received from a registered supplier (other than reverse charge)

  • Inward supplies from registered supplier (reverse charge): Here the dealer needs to add details of inward supplies received from a registered supplier on which reverse charge is applicable.
  • Inward supplies from unregistered supplier: The dealer needs to add details of inward supplies received from an unregistered supplier
  • Import of Service: To add details of import of service
  • Summary of CMP-08: To view auto-drafted details provided in filed Form CMP-08 for the financial year
  • Tax rate wise inward and outward supplies: To enter tax rate wise details of outward supplies/ inward supplies attracting reverse charge during the financial year
  • 7 .TDS/TCS credit received: To view details related to TDS/TCS credit received
  • If there is any difference in CMP-08 and outward supplies while filing the GSTR 4. For the difference amount challan need to be paid.

Penalty:

The late fee for delay in furnishing of FORM GSTR-4 by the composition taxpayer to be capped to Rs.500 per return if the tax liability is nil in the return, and Rs. 2000 per return for others.

What is the due date of filing GSTR 4?

The due date for filing GSTR 4 is 30th of April following the relevant financial year.

 As per the outcome of the 43rd meeting of the GST council & CBIC notification due date to file GSTR-4 for the year 2020-21 is extended up to 31st July 2021.

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