Who can file Gstr 4 return?

GSTR-4 is a GST Return that has to be filed by a composition dealer. Unlike a normal taxpayer who needs to furnish 3 monthly returns, a dealer opting for the composition scheme is required to furnish only 1 return which is GSTR 4 once in a year by 30th of April, following a financial year.

What is the turnover limit for Gstr 4?

Also, there is a special scheme for the taxpayer whose 10\% turnover is considered as a service to the consumer can also register under the GST composition scheme. The information details in GSTR 4 form (CMP-08) should be filed in 18th of the next succeeding month following the quarter of the relevant tax period.

What happens if Gstr 4 not filed?

If Form GSTR-4 is not filed by the due date, GST Portal will calculate the late fee as per the prescribed law and show the same in “Late Fee Payable” column.

What are the details required to be submitted in form GST 4?

Prerequisites for filing GSTR-4 You have to be a registered tax payer 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.

Is 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.

Is Gstr 4A mandatory?

3 Do I have to file Form GSTR-4A? Ans: No, you don’t have to file Form GSTR-4A. It is a read-only document provided to you so that you have a record of all the invoices received from various suppliers in a given tax period.

Is Gstr 4 mandatory for all composition dealers?

The filing of Form GSTR-4 is mandatory for all composition taxpayers. Taxpayers who opted in for composition scheme before starting of any financial year since GST regime was introduced; Taxpayers who have opted in for composition but subsequently opted out of this scheme any time during the year.

Is it compulsory to file Gstr 4?

Who files gstr5?

non-resident foreign taxpayer
GSTR-5 is a return form that has to be filed by a non-resident foreign taxpayer who is registered under GST for the period during which they carry out businesses transactions in India.

Is late fee waived for Gstr 4?

B. The late fee for delay in furnishing of FORM GSTR-4 by composition taxpayers to be capped to Rs 500 (Rs 250 CGST + Rs 250 SGST) per return, if tax liability is nil in the return, and Rs 2000 (Rs 1000 CGST + Rs 1000 SGST) per return for others. C.

Who is casual taxable person?

“Casual taxable person” means a person who occasionally undertakes transactions involving supply of goods or services or both in the course or furtherance of business, whether as principal, agent or in any other capacity, in a State or a Union territory where he has no fixed place of business.

What is gstr 4 and how to file gstr-4?

What is GSTR-4? GSTR-4 is a GST Return that has to be filed by a composition dealer. Unlike a normal taxpayer who needs to furnish 3 monthly returns, a dealer opting for the composition scheme is required to furnish only 1 return which is GSTR 4 once in a year by 30th of April, following a financial year.

How many gstr-4 are required for composition scheme?

Unlike a normal taxpayer who needs to furnish 3 monthly returns, a dealer opting for the composition scheme is required to furnish only 1 return which is GSTR 4 once in a year by 30th of April, following a financial year. When is GSTR-4 due? GSTR 4 has to be filed on an annual basis.

When can I file my gstr 4 (cmp-08) return?

GSTR 4 (CMP-08) returns can be filed on 18th April, 18th July, 18th October, and 18th January and so forth Business entities registered under the composition scheme will be required to pay taxes at fixed rates quarterly without availing input tax credit facility

What is the penalty for not filing gstr-4?

A penalty of Rs. 200 per day is levied if the GSTR-4 is not filed. The maximum penalty that can be charged is Rs. 5,000. Also, if the GSTR-4 is not filed for a given quarter, then the taxpayer cannot file the next quarter’s return either.