GSTR 4: Return for Composition Supplier

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Shreya Sharma

Composition Scheme
GST Return
Last updated on February 3rd, 2023

GST is a path breaking indirect tax reform which attempts to create a common national market. The Composition scheme is a very simple, hassle free compliance scheme for small businesses under GST. It is a voluntary and optional scheme. Taxpayers registered under Composition Scheme have to file an annual return GSTR 4 on GST Portal.

What is GSTR 4?

Every registered tax payer under Composition Scheme have to furnish an annual return i.e. Form GSTR 4. It comprises of details of turnover in the state or Union territory, inward supplies of goods and/or services, tax payable, tax paid and such other particulars.

Who Should file GSTR 4?

All registered taxpayers who have opted for composition scheme or were under composition scheme under GST, for any period during a financial year need to file an annual return.

Contents of GSTR 4

The broad contents of Annual Return contains:

  1. Basic & Other Details
    • GSTIN i.e. GST Identification Number of the taxpayer
    • Legal Name and Trade Name of the business
    • TDS/TCS credit received
    • Tax, interest, late fee payable and paid
    • Refund claimed from Electronic Cash ledger
  2. Details regarding Inward and Outward Supplies
    • Purchases from registered dealers (including purchases on which reverse charge is applicable)
    • Purchases from unregistered dealers (including purchases on which reverse charge is applicable)
    • Summary of self assessed liability as per GST CMP 08 (Net of advances credit and debit notes and any other adjustments due to amendment tables)
    • Import of Services

GSTR 4 Due Date

The due date for filling the annual return is 30th of the month succeeding the financial year i.e. 30 April or as extended by government.

GSTR 4 Due date

Further, the persons required to file an annual return are also required to furnish a statement in Form CMP-08 containing details of payment of self-assessed tax every quarter.

GST CMP-08 Due date

Annual Return can be filed only if, all applicable quarterly statements in Form CMP 08 of that financial year have been filed.

Who can file NIL GSTR 4?

If the following conditions are match:

Nil Annual Return can be filed.

How to Revise GSTR 4?

The is no option to revise the annual return once filed.

Late Fees and Penalty

The fee for late filing of annual return is Rs. 50 per day up to a maximum of Rs. 2000. Where the tax liability is nil, the maximum late fee is Rs. 500.

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Can a person paying tax under the composition scheme issue a tax invoice under GST?

No. He can issue a bill of supply in lieu of tax invoice

Is it mandatory to file Form GSTR-4?

Yes, It is mandatory to file Form, in case you have opted for Composition Scheme.

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