ALL About GSTR-4 Return Form
GSTR-4 Return Form is filled by those taxpayers who are registered as Composition dealer in the GST Regime and GSTR-4 Return Form is filled on the Quarterly basis.
Not all businesses will be eligible to register under the GST composition scheme – only the business entities, for whom the annual turnover is Under INR 1 Crore and who also fulfill other specified criteria can be entitled to register under the Composition Scheme.
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What is the due date for filing GSTR 4 Return?
GSTR-4 Return must be filled between the 11th and 18th of every April, July, October, January.
Details to be provided in GSTR-4 Return Form
- GSTIN: The taxpayer’s GSTIN will be auto-populated at the time of return filing.
- Name of the Taxable Person: The taxpayer’s name will also be auto-populated at the time of logging into the common GST Portal
- Aggregate Turnover: The taxpayer has to details of the previous year’s aggregate turnover, and the aggregate turnover for the period of April-June, 2017 (for the first GSTR-4 return). These fields will be auto-populated for the returns of October to December period.
- Inward Supplies including supplies on which tax is to be paid on reverse charge: Purchases from registered dealers will get be auto-populated based on GSTR-1 filed by the sellers.
Inward supplies from an unregistered person are required to be furnished manually.
Inward supply also includes import of services and supplies attracting tax under reverse charge mechanism.
The tax to be paid under reverse charge is not covered under composition scheme. So, tax at normal rates has to be paid for RCM
- Amendments to details of inward supplies furnished in return for earlier tax periods in Table 4 [including Debit Note/Credit Notes and their subsequent amendments]: Any change in the details of inward supplies for earlier tax periods can be made here. The details of an invoice which needs to be corrected like invoice amount, amount of tax, etc. should be mentioned in this table.
Tax on outward supplies made (net of advance and goods returned)
All sales made by Composition dealer need to be entered in this table and capture the details of outward supplies including advance and net of goods returned during the current tax period.
7. Amendments in Outwards Supply details furnished in returns for earlier tax periods in Table No.6: Any change to be made to details of sales provided in previous returns is required to be stated here along with original details. In case of LEDGERS GST software, the amount of GST payable is automatically calculated based on the nature of the business of the taxpayer.
- Consolidated Statement of Advances paid/Adjusted on Account of Receipt of Supply:
Information of advance paid related to reverse charge supplies and the tax paid on it including adjustments to invoices issued.
- TDS Credit received: TDS credit would be auto-populated in Table 9 from Form GSTR 7A.
- Tax payable and paid: Total tax liability and the tax paid have to be specified in this table. IGST, CGST, SGST, Cess have to be separately mentioned here.
- Interest, Late Fee payable and paid: Interest and late fees payable for late filing or late payment of GST have to be mentioned here. The Interest on account of IGST, CGST, SGST, Cess payment should also be stated in this table.
- Refund claimed from Electronic cash ledger: Any refund of excess taxes paid can be claimed here. The refund has to be further segregated into tax, interest, penalty, fees, and others.
13.Debit entries in cash ledger for tax /interest payment:-It includes the details of the debit entries in cash ledger for tax/interest payment and it is to be populated after payment of tax and submissions of return.