CBIC Extends Due Date of GSTR-4 Return filing for FY 2019-20

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A Big relief for composite GST taxpayers, the Central Board of Indirect Taxes and Customs (CBIC) extended the deadline of GSTR-4 return filing.

let’s understand in detail – 

Know About GSTR-4 Return

GSTR-4 is a return that requires to be filed. The due date for filing Form GSTR-4 Annual Return is 30th 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 31/10/2020. The GSTR-4 return contains the total value of the sales and supplies made, the tax paid at compounding rate, invoice details etc.   

Benefits of GSTR-4 filling

The facility of GSTR-4 return filing on the GST portal was first introduced on 21st July 2020. It was followed by the statement of an offline tool only on 6th August 2020 to prepare a few tables of GSTR-4 without needing the internet. Although it has many advantages – 

  • The return is relatively simple in comparison with the annual return for regular taxpayers, being GSTR-9. 
  • However, the time limit given for the composition taxpayers to familiarise with the new facility was considerably less. 

Why CBIC extends the due date to file GSTR- 4?

Due to Covid-19, most of the companies having GST registration are now unable to timely meet their GST compliance. Hence, the GST department has now announced the extension of Due-date for the annual GST return filing of GSTR-4 and GSTR-4 Return for FY 2019-20 is now extended to 31st October 2020.

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 suitable quarters of the year: 

  • NOT made any outside supply 
  • NOT permitted any goods/services
  • Have NO additional liability to report
  • Have filed all Form CMP-08 as Nil

Important Measures for filing GSTR-4

Some of the important measures of GSTR-4 is – 

  • GSTR-4 is a return that needs to be filed by the taxpayers opting for the Composition Scheme on an annual basis. 
  • Until the FY 2018-19, the return was filed every quarter which got substituted by CMP-08. 
  • Unlike a normal taxpayer, a taxpayer opting for the composition scheme is required to furnish quarterly returns known as CMP-08 and GSTR 4 once in a year by 30th of April, financial year.
  •  GSTR-4 for FY 2019-20 is now extended to 31st October 2020.

41st GST Council Meeting on GST Compensation to States 

If you need any assistance regarding the annual GST return filing procedure or the GST Registration, please feel free to contact our business advisor at 8881-069-069.

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