GSTR-4 Filing Procedure and Due Dates

By GSTBazaar

27th July 2017

 

Every taxpayer who has opted for composition scheme is required to file a quarterly return known as GSTR-4.  The taxpayer is required to mention the consolidated value of supplies made during the tax period and total tax paid and invoice level details of purchases made from other registered tax payers by the compounding vendor during a particular tax period. The due date for filing GSTR-4 is 18th of the month following that quarter.

Perquisites for Filing GSTR-4

1. For filing GSTR-4 a taxpayer must obtain a registration under the composition scheme of the GST regime.  To register under the composition scheme the annual turnover of the taxpayer must not exceed Rs 75 lakhs.

2. The taxpayer is required to keep a track record all purchases, especially those you made from businesses who have registered under the GST along with the invoices of purchases. (B2B purchases)

Particulars of GSTR-4

1. GSTIN- Under this head a unique PAN based 15 digits number should be specified.

2. Name of the taxpayer- Name and address of the registered taxpayer shall be mentioned under this head.

3. Period of Return- The taxable person is required to choose the period for which he is filing the tax return from the drop down list.

4. Inward Supplies including supplies from unregistered dealers- Here details of all the inward supplies and purchases received during the tax period are specified.  Details of purchases made from both registered and unregistered dealer along with the details of transactions made under the reverse charge are recorded here.

Using section 5A of GSTR-4 these details can be modified or amended.

5. Imports of Goods/Capital goods- The details of goods/capital goods imported from overseas vendors are included under this head.

Under section 6A composition dealer can amend or modify the details filed in GSTR-4.

6. Outward Supplies Made- This head will include the details of sales and supplies made by the taxpayer. The details of both interstate and intrastate transaction along with the details of non- GST supplies are included here.

7. Details of debit/Credit Notes issued and received- Here the composition dealer is required to provide the details of the debit or credit notes raised by him.

Under section 9A any amendments can be made in the details provided under this head. 

8. TDS received- Under this head the details of the credit received by the taxpayer against the tax deducted at source are recorded.

9.  Tax Liability under reverse charge arising on account of the time of supply without receipt of Invoice – This head will include the details of situation wherein services or goods are taken from The unregistered vendor during this tax period without an invoice while GST is paid by the registered taxpayer on their behalf under reverse charge. Through Section 11A of the GSTR-4 can be any kind of modifications or amendments can be made in the details filed.

10. Tax already paid on account of the time of supply for invoices received in the current period relating to the reverse charge.

11. Tax Liability- Through the information provided above the total tax liability of the taxpayer is calculated under this head.

12. Details of Tax payment- Under this head, the liability of tax calculated under the previous head is required to be paid.  It can be paid by way of debiting Electronic Credit Ledger or Electronic Cash Ledger.

13. Refund Claims- When the tax liability of composition dealer is less than the TDS deducted, he will get a refund of balance amount. Such amount which is available for refund will get auto-populated under this head.

14. Are you likely to cross composition limit before the next date of return- Under this head, a declaration is obtained from the composition dealer that his turnover does not exceed the threshold limit of Rs75 lakhs. In case his annual turnover exceeds Rs 75 lakhs then he will be liable to pay taxes as per the normal rate of taxes.

Once all the above information is furnished, composition dealer is required to digitally sign his return. This can be done through Digital Signature Certificate (DSC) or Aadhar based verification.

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GSTR-4 Filing Procedure and Due Dates

2017-07-27