a. 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.
b. When is GSTR-4 due?
GSTR 4 has to be filed on an annual basis.
The due date for filing GSTR 4 is 30th of April following the relevant financial year. For example, the GSTR-4 for FY 2019-20 is due by 30th April 2020*. Until the FY 2018-19, the due date was 18th of the month after the end of the quarter.
*Note: The time limit to file GSTR-4 annual returns for the FY 2019-20 by the composition dealers has been extended till 15th July 2020 via CBIC notification dated 3rd April 2020.
c. Who should file GSTR-4?
A taxpayer opting for the Composition Scheme is required to file GSTR-4. It also covers the special composition scheme notified for the service providers vide the CGST (Rate) notification number 2/2019 dated 7th March 2020 with effect from FY 2019-20.
d. How to revise GSTR-4?
GSTR 4 cannot be revised after filing on the GSTN Portal.
e. Late Fees and Penalty
A late fee of Rs. 200 per day is levied if the GSTR-4 is not filed within the due date.
The maximum late fee that can be charged cannot exceed Rs. 5,000.