CA Ashutosh Khaitan
What is Form GSTR-4 Annual?
Form GSTR-4 (Annual) is annual return which is required to be filed by taxpayers who have opted for composition levy u/s 10 of CGST Act.
The purpose of the return is to provide details of inward supplies, import of services, inward supplies attracting reverse charge and outward supplies, along with the tax liabilities declared in form CMP-08.
Due date of filing of GSTR-4 Annual?
Due date of filing of GSTR-4 Annual for any Financial year is 30th April of next financial year.
Illustration: For FY 2022-23 the due date of filing of GSTR-4 Annual is 30th April 2023.
Applicability of late fee in GSTR-4 Annual?
|
Financial Year |
GSTR-4 Annual filing |
Per day late fee (Rs.)* |
Maximum Late fee (Rs.)* |
|
2019-20 2020-21 |
Non-Nil |
50 |
10,000 |
|
Nil |
20 |
10,000 |
|
|
2021-22 and onwards |
Non-Nil |
50 |
2,000 |
|
Nil |
20 |
500 |
*Cumulative of both CGST and SGST/UTGST.
What is Amnesty Scheme in GSTR-4 Annual?
Amnesty scheme is basically a scheme by which the late fees is reduced for a specified period of time.
Notification No. 02/2023 - Central tax dated 31st March 2023 has been issued specifying the below details:
|
Financial Year |
GSTR-4 Annual filing |
Per day late fee (Rs.)* |
Maximum Late fee (Rs.)* |
|
2019-20 2020-21 2021-22 |
Non-Nil |
50 |
500 |
|
Nil |
0 |
0 |
*Cumulative of both CGST and SGST/UTGST.
The reduced late fee shall be applicable if the GSTR-4 Annual which has not been filed by the due date, but the same is filed between 1st April 2023 till 30th June 2023.
Any taxpayer who will be filing the GSTR-4 within the amnesty period stands to benefit.
Note: If there is any tax liability, then the interest at 18% p.a. shall still be applicable on such tax liability which would be paid be debiting the electronic cash ledger as per section 50 of CGST Act, 2017.
Has any amnesty scheme been issued for GSTR-4 Annual, previously?
Notification No. 07/2022 - Central tax dated 26th May 2022 was issued specifying that the late fee would be fully waived off if GSTR-4 Annual for FY 2021-22 was not filed by the due date, but the same is filed between 1st May 2022 till 30th June 2022.
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