Is ITC 04 for NIL value has to be filed if no transactions are there for Apr23 to Sep23 ?

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This query is : Resolved

Chandrashekhar Kulkarni (Querist)

24 April 2024 Dear Sir,
please guide whether ITC 04 for NIL value has to be filed if no transactions are there for Apr23 to Sep23 in our company. Requested to guide.

Aashok Kumar Sharma online

Aashok Kumar Sharma

(Expert)

09 July 2024 If your company has no transactions to report under Input Tax Credit (ITC) related to goods dispatched to a job worker or received back from a job worker for the period April 2023 to September 2023, you are still required to file Form ITC-04. Here's a step-by-step guide on how to proceed:

1. **Login to GST Portal:** Log in to the GST portal using your credentials (GSTIN and password).

2. **Navigate to Form ITC-04:** Go to the 'Services' section and select 'Returns' > 'ITC Forms' > 'ITC-04'.

3. **Select the Tax Period:** Choose the tax period as April 2023 to September 2023.

4. **File NIL Return:**
- In the ITC-04 form, there will be sections to enter details of goods sent for job work (Section 4) and received back from job work (Section 5).
- Since there were no transactions during this period, you should enter '0' in all relevant fields indicating quantity and value.
- Ensure that you mark all checkboxes correctly indicating that there were no goods sent or received during this period.

5. **Verification and Submission:** Review the form to ensure all details are accurate and that you have correctly indicated nil transactions. Then, submit the form on the GST portal.

**Acknowledgment:** After submission, you will receive an acknowledgment confirming the filing of NIL ITC-04 for the specified tax period.

**Record Keeping:** Keep a copy of the acknowledgment and the filed return for your records. It's important to maintain proper documentation as per GST compliance requirements.

Even though there were no transactions, filing a NIL return for ITC-04 is mandatory to comply with GST regulations. Failure to file the form could lead to penalties and compliance issues. Therefore, ensure timely filing even if there are no transactions to report.

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