The person who has opted for Composition levy under GST Act is called the Composition Dealer. A Composition Scheme Dealer has to comply with GST Return requirements on Quarterly and Annual Basis.Here, we cover a brief explanation regarding different GST Returns applicable for a Composition Dealer.
|
GSTR-4 |
|
|
Category of tax payer |
Composition Scheme Dealer |
|
Periodicity |
Quarterly |
|
Due Date |
18th of the following month of end of quarter |
|
Details to be Furnished |
Details of all outward supplies of goods and services, tax payable and payment of tax. |
|
Other Important points |
GSTR-4 is prepared based on auto-populated details from Form GSTR-4A containing details of inward supplies as reported in GSTR-1 filed by the supplier. GSTR-4 once submitted cannot be revised. The return filed in the previous quarter can only be rectified at the time of filing of return of the subsequent quarter. Late fee: The Late fee for filing GSTR-4 is INR 50 per day and INR 20 per day (for nil return taxpayers). |
|
GSTR-9A |
|
|
Category of tax payer |
Composition Scheme Dealer |
|
Periodicity |
Annually- Once in a year |
|
Due Date |
31st December of next financial year |
|
Details to be Furnished |
GST Annual Summary Return. It basically consolidates the information furnished in the quarterly returns during the year. |
|
Other Important points |
Due date for filing GSTR-9, 9A and GSTR-9C is extended till 31st March 2019 by CBIC for FY 2017-18 It was recommended in 31st GST Council Meeting held on 22nd December 2018, to further extend the due date for filing GSTR-9,9A and GSTR-9C up to 30th June 2019. Late fee: For late filing of GSTR-9/9A, a penalty of ₹ 200 per day containing ₹ 100 each under both CGST and SGST Act. The penalty, however, cannot exceed 0.25% of the total turnover of the taxpayer in the respective state or UT. |
