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Filing of GSTR4 for Composition Dealers

The GSTR 4 Return is a quarterly return form for those taxpayers who have opted for the GST Composition scheme under the new GST system in India.


Further, GSTR 4 Return consists of Inward and Outward Supplies made during the particular quarter. The Return should be file by all the composite registered taxpayers. This Return is not applicable to Non-resident Taxable Person, Taxpayers liable to collect TCS, Input Service Distributors, Taxpayers liable to deduct (TDS), Composition Dealers, Compounding taxable person, Suppliers of OIDAR (Online Information and Database Access or Retrieval).


Composition dealers need to file the following returns under the GST regime.


GST Form CMP-08

The Composition Taxpayers must file all the quarterly return within 18th of every quarter in Form GST CMP-08 for the relevant Financial Year.


Under the GST composition scheme, the Tax rate is applicable on the business turnover. At present, the following rates are applicable:

  • Manufacturers and Traders – 1% GST

  • Restaurants (Not serving alcohol) – 5% GST

  • Service Providers – 6% GST


GSTR 4

It is compulsory to file GSTR-4 Annual Return if You were a composition taxpayer anytime during a part of the financial year or Your GST registration got cancelled anytime during the financial year or You voluntarily opted out of the composition scheme during that financial year.

Taxpayers need to be very careful while filing the GST Annual return as it cannot be revised once filed on the portal. Hence, it is advisable that such dealers take the help of legal experts before filing GSTR4.


Penalty

Minimum Fee

-Rs.50 per day

Maximum Fee

-Rs.500 per return for nil filing

-Rs.2000 for other than nil filing.



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