GSTR-4 is the GST return that is to be filed by taxpayers registered under the Composition Scheme. It is to be filed on a quarterly basis on GST Portal. It comprises of details of purchases, sales turnover and tax liability for the relevant quarter.
Further, before filing GSTR-4, the taxpayer must make the payment of tax at a specified rate on total outward supplies i.e. sales. The rate depends on the nature of the taxpayer.
What information is required to be reported under GSTR-4?
1. GSTR-4 comprises of the following details:
2. GSTIN i.e. GST Identification Number of the taxpayer
3. Legal Name and Trade Name of the business
4. Return period i.e. the quarter
5. Details of inward supplies i.e. purchases
- Purchases from registered dealers (including purchases on which reverse charge is applicable)
- Purchases from unregistered dealers (including purchases on which reverse charge is applicable)
- Credit Note and Debit Note for purchases from registered and unregistered dealers
- Import of Services
- Amendment of purchases, import or notes
Tax liability on sales turnover at prescribed rate as per the table below:
|Nature of Business||Total Tax Rate||CGST Rate||SGST Rate|
|Restaurants not serving alcohol||5%||2.5%||2.5%|
The Details furnished in GSTR-4 can be reset with RESET button that appears post submission of GSTR-4. Entries posted in Electronic Liability Register/Cash Ledger will also be deleted with reset. Taxpayer need to resubmit the application/ form with new data.
No. He can issue a bill of supply in lieu of tax invoice
No. The option is required to be given electronically in FORM GST CMP-02, prior to the commencement of the relevant financial year.