05/12/2018
GSTR-4: Return Filing, Format, Eligibility & Rules
A dealer registered under composition scheme of GST is required to furnish GSTR-4 by 18th of the month succeeding quarter. Read more to understand GSTR-4
GSTR-4 is a quarterly return that taxpayers opting for Composition Scheme need to furnish.
In this article, we discuss the following topics in detail:
Basics of GSTR-4
What is GSTR-4?
When is GSTR-4 due?
Who should file GSTR-4?
How to revise GSTR-4?
Late Fees and Penalty
How to file GSTR-4 on ClearTax GST Software?
General queries on GSTR-4
1. Basics of GSTR-4
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.
b. When is GSTR-4 due?
GSTR 4 has to be filed on a quarterly basis.
The due date for filing GSTR 4 is 18th of the month after the end of the quarter.
c. Who should file GSTR-4?
A taxpayer opting for the Composition Scheme is required to file GSTR-4.
d. How to revise GSTR-4?
GSTR-4 cannot be revised after filing on the GSTN Portal. Any mistake in the return can be revised in the next month’s return only. It means that, if a mistake is made in the GSTR-4 filed for the July-September quarter, the rectification for the same can be made only when filing the next quarter’s GSTR-4.
e. Late Fees and Penalty
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.
As per Latest Notification No. 73/2017 – Central Tax late fees for GSTR-4 has been reduced to Rs. 50 per day of default. Also, the late fees for NIL return in GSTR-4 have been reduced to Rs. 20 per day of delay.