1. What is Form GSTR-4 Annual Return: – With effect from 1^st April, 2019, all Composition Taxpayers are required to file Form GSTR-4 Annual Return, on annual basis, for each financial year. 

2. Who are required to file Form GSTR-4 Annual Return: All registered taxpayers who have opted for composition scheme or were under composition scheme under GST, for any period during a financial year, starting from 01.04.2019, need to file Form GSTR-4 Annual Return, annually.  

3. Who can file NIL Form GSTR-4 Annual Return: Nil Form GSTR-4 Annual Return can be filed for the financial year, if you have, for all applicable quarters of the year,: 

   • NOT made any outward supply 

   • NOT received any goods/services

   • Have NO other liability to report

   • Have filed all Form CMP-08 as Nil

4. Due date of Filing: The due date for filing Form GSTR-4 Annual Return is 30^th of the month succeeding the financial year or as extended by Government, from time to time. For FY 2019-20, it has to be filed by 31/08/2020.

5. Filing Form GSTR-4 Annual return: Logon to your dashboard, click on Services > Returns > Annual Return >Select FY>Search>GSTR 4> FILE THE RETURN.

6. Some important Points:

   • Form GSTR 4 can be filed only if, all applicable quarterly statements in Form CMP 08 of that financial year, have been filed.

   • Form GSTR-4 Annual Return, once filed, can’t be revised

   • After successfully filing, ARN will be generated and intimated through email and SMS

   • Currently only the online filing has been enabled on the portal. Shortly, offline tool to file Form GSTR-4 Annual Return will also be made available.

7. How it is different from Form GSTR-4 Quarterly Return: Please note that this Form GSTR-4 Annual Return is different from the Form GSTR-4 Quarterly Return, which was required to be filed on a quarterly basis. 

   1. Form GSTR-4 Quarterly Return is applicable up to tax period ending on 31^st March, 2019, for composition taxpayers. 

   2. For tax periods till the quarter ending March, 2019, Composition Taxpayers are required to file Form GSTR-4 Quarterly Return (which is also available on the GST portal), on quarterly basis. Whereas from 01.04.2019, composition taxpayers are required to file Form GST CMP 08, on quarterly basis.

Read Also : E-CAMPAIGN BY CBDT TILL 31.07.2020

Read Also : GST pending registration approval.

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CBIC has issued notification for GST Composition Limit which are applicable from 01.04.2019 on various issues on 07.03.2019. Notification No 14/2019 dated 07.03.2019 has been issued to increase the limit for eligibility of composition scheme from Rs 1.00 Cr to Rs 1.5 Cr . From 01.04.2019 onward , any eligible registered person who wants to opt for composition scheme in GST can do so if his aggregate turnover in the preceding financial year does not exceed Rs 1.5 Cr . Provided that the said limit of Rs 1.5 Cr shall not be applicable for the special category states where in the limit is Rs 75 Lacs. Special Category states are as follows :(i) Arunachal Pradesh,(ii) Manipur,(iii) Meghalaya,(iv) Mizoram, (v) Nagaland,(vi) Sikkim,(vii) Tripura(viii) Uttarakhand:Further , registered person shall not be allowed to opt for composition scheme if he is engaged in the business of Ice Cream, Pan Masala , Tobacco and Tobacco substitutes. The GST Composition scheme may be opted for small taxpayers . In this scheme taxpayers cannot collect tax from customers.  Tax has to be paid on a fixed percentage on turnover. Tax invoice shall not be issued and Bill of supply shall be issued mentioning the value of transactions. For FY 1819 , GST CMP 08 , is required to filed for every quarter by composition taxpayers. GSTR4 has to be filed annually after the end of Financial Year.  Refer official Notification Here : Notification No 14/2019 Dated 07.03.2019     Read Also : GST RECENT UPDATES Read Also : GST NEW RETURN – GST RET 1

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 Government of India has made significant and important changes in composition scheme wef 01.01.2018 regarding tax rate and value of turnover for calculation of tax.Big relief has been given to small taxpayers in GST Composition Scheme from April 2018 

CHANGES IN RATE OF TAX AND VALUE OF TURNOVER FOR COMPOSITE DEALERS

 CBIC has issued a Notification No 1/2018 – CT dated 01/01/2018 dt 01.01.2018 prescribing the rate of tax for composite dealers and turnover for calculating tax. Let’s Discuss….. 

Text of notification is reproduced below:

 “In exercise of the powers conferred by sub-section (1) of section 10 of the Central Goods and Services Tax Act, 2017 (12 of 2017) the Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.8/2017- Central Tax, dated the 27 th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 647 (E), dated the 27 th June, 2017, namely:- In the said notification, in the opening paragraph, –  (a) in clause (i), for the words “one per cent.”, the words “half per cent.” shall be substituted; (b) in clause (iii), for the words “half per cent. of the turnover”, the words “half per cent. of the turnover of taxable supplies of goods” shall be substituted. In the above notification Tax Rate for composite dealers has been reduced from 1% to .5% for CGST  for Taxpayers specified in Clause (i) of Notification of 8/2017 CT dated 27th June 2017. In simple words , Tax rate for MANUFACTURERS OTHER THAN TRADERS has been reduced from 1% to .5% .  In the same notification in point (b) it has been provided that for the words “HALF PERCENT OF THE TURNOVER“ the words “HALF PERCENT OF TURNOVER OF TAXABLE SUPPLIES“ shall be substituted in clause (iii) of Notification No 8/2017- CT dated 27.06.2017. In simple words, For Traders who have opted for composite scheme will have to pay tax @ .5% CGST and .5% SGST only on TAXABLE SUPPLIES and the value of exempt supplies will not be included in turnover for calculating tax from 01.01.2018.  Also Read : GST NEW RETURN (GST RET 1) Also Read : CHANGES IN GST 

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