Filing GST Return with GSTR-4

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Filing GST Return with GSTR-4

GSTR- 4 is a quarterly GST return form, which is filed by a specific group of taxpayers who have opted for Composition Scheme under the recent indirect tax regime. Under Compostion Scheme the taxpayer is not required to file three returns every month, as the return filed by regular dealers, instead he/ she is required to file just one quarterly return.

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Moreover, it would be interesting to know that, not all the businesses are eligible to register under GST Composition Scheme. Business entities that have an annual turnover of less than Rs. 1 Crore as well as the business entities that fulfil other specified criteria, is also entitled to register under the Composition Scheme.

Taxpayers must remember that, the dealers who are under Composition Scheme are supposed to pay taxes at certain rates and they cannot enjoy the benefit of Input Tax Credit.

Filing GST Return with GSTR-4
Filing GST Return with GSTR-4

Who is required to file GSTR-4?

Any taxpayer, who opts for Composition Scheme under the recent Indirect Tax Regime, can file GSTR-4. Except the following taxpayers: –

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  • Taxpayers who are liable to deduct TDS
  • Compounding taxable person
  • Suppliers of OIDAR or Online Information and Database Access or Retrieval
  • Non-resident Taxable Person
  • Taxpayers who are liable to collect TCS
  • Input Service Distributors

What is the due date to file GSTR-4?

The due date to file GSTR-4 for every quarter is the 18th of the following month from the end of the quarter.

QuarterDue Date
April-June 201818th July 2018
July-September 201818th October 2018
October-December 201818th January 2019 (The due date may change post GST Council meet)
January-March 201818th April 2019 (The due date may change post GST Council meet)

What is the procedure to revise GSTR-4?

If you realized that, you have made a mistake while filing GSTR-4, then you cannot rectify the mistake directly on the official GST Portal after filing the return. The only way you can correct the error is while filing the GSTR-4 for the next quarter.

For eg: If you have made an error while filing GST for the quarter July-September, then the only way you can rectify the error is while filing the return for the October-December quarter.

What is the penalty for late filing of GSTR-4?

If a taxpayer fails to file the quarterly GST return on or before the due date, then a penalty of Rs. 200/ day will be levied on him/ her. The maximum penalty of Rs. 5000 can be levied on the taxpayer for the late filing. According to the recent notification No. 73/2017-Central Tax, the late fees for filing this form has been reduced to Rs. 50/ day. Moreover, the late fees for NIL return with GSTR-4 have been reduced to Rs. 20/ day.

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