What is GSTR-04?
GSTR-04 is a Return that has to be filed by a taxpayer opted for composition scheme.
What is its due-date?
GSTR-04 has to be filed quarterly and the last date for filing for the quarter i.e. Jul-17 to Sep-17 is extended to 15-Nov-2017 (as per latest update).
Penalties for missing GSTR-04 filing :
If GSTR-04 is not filed within the due date as stated above late fees of Rs.100 per day to the maximum of Rs.5000 can be charged.
Without filing the return of previous quarter the subsequent quarter return cannot be filed.
How to fill and file GSTR-04?
GSTR-04 is divided into 13 tables or sections and the information to be furnished is discussed in detail below along with the templates: –
Select the Year and Quarter
In Table No.3 Aggregate turnover of the previous fiscal year, i.e 2016-17 and aggregate turnover for the present fiscal year i.e from Apr-17 to Jun-17 has to be furnished. All other information shall be auto-filled.
Here we can recall that the furnished turnover has to be within the prescribed limit of Rs.75 lakhs p.a (Rs.1 Cr p.a as per the latest update for the States/UT except for the special category States).
In Table, No.4 furnish the inward supplies including the inward supplies attracting reverse charge (i.e purchases from unregistered dealers) for the given quarter.
Purchases from registered dealers will be auto-populated from the GSTR-01 filed.
Appropriate taxes to be paid under normal rates under reverse charge for a dealer opted for composition scheme.
According to the recent notification No.38/2017 CTR dated 13th October 2017, in case of a reverse charge, an exemption has been granted to all the registered dealers till Mar-2018 from Oct-17 on the unregistered dealer purchases [u/s 9(4) of CGST Act].
4. Inward supplies including supplies on which tax is to be paid on reverse charge
In Table No.5 amendments related to inward supplies furnished in the earlier quarter can be furnished in the said table including the debit/credit notes received.
5. Amendments to details of inward supplies furnished in return for earlier tax periods in Table[including debit notes/credit notes and their subsequent amendments]
In Table No.6 details related to sales for the quarter i.e, all the bill of supply net of advance received and goods returned has to be furnished.
It is pertinent to note that inter-State sales cannot be effected by a taxable person opted for composition.
6. Tax on outward supplies made(Net of advance and goods returned)
In Table No.7 amendments to the details furnished in the earlier table for the earlier quarter needs to be furnished.
7. Amendments to Outward Supply details furnished in return for earlier tax periods in Table No.6
In Table No.8 the following has to be furnished: –
- all advances paid for reverse charge supplies ;
- all advances paid on which tax was paid in earlier period but the invoice is received in the current period;
- all amendments to be made to advances mentioned in the previous quarter return.
8. Consolidated Statement of Advances paid/Advance adjusted on account of receipt of supply
In the next Table No.9, any tax deducted at source i.e TDS by the deductor has to be furnished including the GSTIN of the deductor.
9. TDS Credit received
In Table No.10 the total tax payable and tax paid is required to be entered
10. Tax payable and paid
In the Table No.11 the interest, late fee payable and paid has to be furnished
11. Interest, Late Fee payable and paid
In the below Table No.12 any refund of excess tax paid can be claimed or furnished
12. Refund claimed from Electronic cash ledger
In the last Table No.13, the tax paid in cash, interest and late fee to be populated after payment of tax and submissions of return.
13. Debit entries in cash ledger for tax/interest payment[to be populated after payment of tax and submissions of return]
Once all the details are filled sign off with a declaration that all information has been furnished and is correct.
Last but not the least GSTR-04 Return once filed, cannot be revised.
Thus please do take due care in its filing and in case of any doubts feel free to contact us!