The GSTR-4 return is one that Composition Scheme electors are required to submit annually. The return was filed every quarter prior to the FY 2018–19, when CMP–08 took its place.
- Describe GSTR-4.
The GST Return GSTR-4 is something that a composition dealer is required to submit. Unlike a regular taxpayer, who must submit three monthly returns, a dealer who chooses the composition scheme is only obliged to submit one return, the GSTR 4, once a year by the 30th of April after the end of the financial year.
- The GSTR-4 due date.
GSTR 4 must be submitted annually.
The 30th of April following the applicable financial year is the deadline for submitting GSTR 4 forms. For instance, the GSTR-4 for the financial year 2022–2023 is due on 30th April, 2023. The deadline up until the financial year 2018–19 was the 18th of the month after the conclusion of the quarter.
- Who needs to submit GSTR-4
A taxpayer who chooses the composition scheme must submit GSTR-4. As of FY 2019–20, it also applies to the special composition scheme announced for service providers in CGST Notification Number 2/2019, dated March 7, 2020.
- Revision of GSTR-4
GSTR 4 cannot be changed once it has been submitted on the GSTN Portal.
- Penalties and late fees
According to the most recent update, there is a late fee of Rs. 50 each day, up to a maximum of Rs. 2000 the maximum late fee in cases when there is no tax liability is Rs. 500.
If the GSTR-4 is not submitted by the deadline, there was previously a late fine of Rs. 200 per day. The highest late fee that could be assessed was Rs. 5,000.
