Exempted Goods value under GSTR-4
This query is : Resolved
17 August 2020
Tax free goods sold by Composition Dealer and under GSTR-4 Turnover Nill Show for FY 2018-19. Now under FY 2019-20 GSTR-4 Previous year Turnover want by GST Department. What is my turnover for FY 2018-19 Nill or Exampled goods sold valur.
18 August 2020
You should give the information clearly mentioning " turnover of outward supply of exempted goods/services".I do not what are your exempted goods or services.
18 August 2020
Sir, Composition dealer Sold Good under GST Exempted in FY 2018-19 and filling GSTR-4 (Qtrly) as showing Nill Turnover under GST Return, due to GSTR-4 not providing option for exempted goods details.
Now FY 2019-20 we are filling Annual return i.e. GSTR-4.
GSTR-4 (FY 2019-20) required Previous year Turnover value.
My question is :
PY Turnover
either
Exempted goods sold value
OR
Nill Amount (as show in GSTR) ?
Now FY 2019-20 we are filling Annual return i.e. GSTR-4.
GSTR-4 (FY 2019-20) required Previous year Turnover value.
My question is :
PY Turnover
either
Exempted goods sold value
OR
Nill Amount (as show in GSTR) ?
21 July 2024
For the purpose of filling out the Previous Year (PY) Turnover in GSTR-4 for FY 2019-20, you should consider the turnover of exempted goods sold during the previous financial year (FY 2018-19). Here's how you should approach it:
1. **Exempted Goods Sold Value**: Since you sold exempted goods in FY 2018-19 as a composition dealer and reported nil turnover in GSTR-4 due to the absence of an option to report exempted goods, you should calculate and include the total value of exempted goods sold during FY 2018-19 in the PY Turnover for FY 2019-20.
2. **Reporting Exempted Goods**: Even though GSTR-4 did not have a specific field to report exempted goods, for the purpose of annual returns like GSTR-4 for FY 2019-20, you should include all sales, including exempted goods, in the turnover figure.
3. **Nil Amount**: The "Nil Amount" you mentioned refers to the fact that in GSTR-4 for FY 2018-19, you reported nil turnover. However, this does not mean you should enter zero for PY Turnover in GSTR-4 for FY 2019-20. Instead, you should calculate and report the total turnover including exempted goods sold during FY 2018-19.
4. **Documentation**: Ensure you have documentation and records to support the turnover figures you are reporting, including details of exempted goods sold during FY 2018-19. This will help in case of any future audits or inquiries.
In summary, for GSTR-4 of FY 2019-20, you should report the turnover of exempted goods sold during FY 2018-19 as part of the PY Turnover, even though GSTR-4 for FY 2018-19 may have shown nil turnover due to the reporting limitations for exempted goods. This approach aligns with the requirement to report all sales turnover, including exempt supplies, in annual returns.
1. **Exempted Goods Sold Value**: Since you sold exempted goods in FY 2018-19 as a composition dealer and reported nil turnover in GSTR-4 due to the absence of an option to report exempted goods, you should calculate and include the total value of exempted goods sold during FY 2018-19 in the PY Turnover for FY 2019-20.
2. **Reporting Exempted Goods**: Even though GSTR-4 did not have a specific field to report exempted goods, for the purpose of annual returns like GSTR-4 for FY 2019-20, you should include all sales, including exempted goods, in the turnover figure.
3. **Nil Amount**: The "Nil Amount" you mentioned refers to the fact that in GSTR-4 for FY 2018-19, you reported nil turnover. However, this does not mean you should enter zero for PY Turnover in GSTR-4 for FY 2019-20. Instead, you should calculate and report the total turnover including exempted goods sold during FY 2018-19.
4. **Documentation**: Ensure you have documentation and records to support the turnover figures you are reporting, including details of exempted goods sold during FY 2018-19. This will help in case of any future audits or inquiries.
In summary, for GSTR-4 of FY 2019-20, you should report the turnover of exempted goods sold during FY 2018-19 as part of the PY Turnover, even though GSTR-4 for FY 2018-19 may have shown nil turnover due to the reporting limitations for exempted goods. This approach aligns with the requirement to report all sales turnover, including exempt supplies, in annual returns.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Sale of Equity shares for Purchase of Residential Property
- Liable to deduct tds and 44ADA
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Gstr7 vs Gstr3b 2026
- Gst return - cess
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- ECO SUPPLY REPORTIONG IN GSTR-1
- E Commerce GSTR1 & 3B how to file
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS PROCEDURE ON SALE OF IMMOVABLE PROPERTY BY NRI
- Refund of 20%pre-deposit paid for stay application
- ASISSE return under the provisions of the Collection of Statistics Act, 2008 (7 of 2009)
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
