CST & VAT/ GST HEADLINES TOP STORIES CBIC makes the filing of Form GSTR-4 Annual Return by Composition Taxpayers on GST Portal July 21, 2020 6:20 pm By Taxscan Team Filing Form GSTR-4 Annual Return by Composition Taxpayers on GST Portal has been allowed by the Central Board of Indirect Tax and Customs (CBIC).
What is Form GSTR-4 Annual Return:
All Composition Taxpayers are expected to file Form GSTR-4 Annual Return annually for each financial year with effect from 1 April 2019. Who is required to file Form GSTR-4 Annual Return All registered taxpayers who have opted for the composition scheme or have been under the composition scheme under GST, must file Form GSTR-4 Annual Return annually for any time during a financial year beginning on 01.04.2019.
Who can submit Null Form GSTR-4 Annual Return Nil Form GSTR-4 Annual Return may be submitted for the financial year if, for all relevant quarters of the year, you have NOT made any outward supply NOT provided any goods/services Have NO other liability to report Have submitted all Form CMP-08 as Nil Due Date of filing The due date for submission of Form GSTR-4 Annual Return is 30th of the month following the final date.
This is expected to be submitted by 31/08/2020 for FY 2019-20. Click on Services > Returns > Annual Return > Select FY > Search > GSTR 4 > FILE THE RETURN. Some relevant points: Form GSTR 4 should only be submitted if all applicable quarterly results in Form CMP 08 of that financial year have been submitted. Form GSTR-4 Annual Return can not be revised once filed After effective filing, ARN will be produced and intimated by email and SMS Only online filing has been allowed on the portal.
An offline tool to file Form GSTR-4 Annual Return will be made available shortly as well. How it is different from Quarterly Return Form GSTR-4 Please note that this Annual Return Form GSTR-4 is different from the Quarterly Return Form GSTR-4, which was supposed to be filed on a quarterly basis. For Composition Taxpayers, Form GSTR-4 Quarterly Return is valid up to the tax period ending on 31 March 2019.
Composition Taxpayers are required to file Form GSTR-4 Quarterly Return (which is also available on the GST portal) on a quarterly basis for tax periods up to the quarter ending March 2019. Whereas taxpayers are expected to file Form GST CMP 08 on a quarterly basis from 01.04.2019