Form GSTR-4 now Available on GSTN Portal

The Goods and Services Tax Network (GSTN), which manges the information technology system of the indirect tax regime, on Tuesday, 21 July 2020 announced making available annual return form GSTR-4 on its portal.

This will help nearly 17 lakh composition assesses to file annual return with effect from FY2019-20. Composition assesses are those GST assesses whose annual turnover is up to ₹1.5 crore. Theses assesses are not authorised to collect GST from consumers and also do not get the benefit of Input Tax Credit (ITC). However, they are permitted to deposit tax at a much lower fixed rate with the government. These assesses are to file annual return for FY2019-20 by August 30, 2020.

Under the new arrangement, composition assesses are not required to continue with quarterly return, but need to submit a statement only in form GST CMP-08. Earlier, a composition taxpayer had to file returns on a quarterly basis in form GSTR-4; filing of annual returns in form GSTR-9A was optional. Now, annual returns have to be filed in GSTR-4.

GSTR-4 can be filed only if all applicable quarterly statements in CMP-08 of that financial year have been filed. This annual return, once filed, can’t be revised. After successfully filing, an intimation will be sent through email and SMS. Currently, only online filing has been enabled on the portal. Shortly, an offline tool to file the form will also be made available.