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.

Who should file GSTR-4?

A taxpayer opting for the Composition Scheme is required to file GSTR-4.

Due Date of GSTR-4

GSTR-4 shall be filled quarterly basis on 18th of the following quarter.

Late Fees

Late fees for GSTR-4 has been Rs. 50 per day of default. Also, the late fees for NIL return in GSTR-4 have been Rs. 20 per day of delay.

The maximum penalty that can be charged is Rs. 5,000.

Details that are required to be submitted in FORM GSTR-4?

While furnishing the return in FORM GSTR-4, the assesse has to furnish the following details:-

(a) Invoice wise details of inter-State and intra-State inward supplies received from registered and unregistered persons

(b) Import of goods and services

(c) Consolidated details of outward supplies

(d) Debit and credit notes issued and received, if any

(e) TCS Credit received

(f) Consolidated statement of advances paid/adjusted

(g) Amendment of outward supplies furnished in earlier returns

Whether an assesse under composition scheme is required to furnish details of inward supply and outward supply?

No. An assesse under the composition scheme is not required to furnish details of inward and outward supplies. Such assesses are required to file quarterly returns in FORM GSTR-4 within 18 days from the end of quarter.