GSTR 4: You Need to Know All About GSTR 4 Return

What is GSTR - 4? 

The GSTR-4 Return is a quarterly return form for those citizens who have picked to go for the GST Composition Scheme in the new indirect tax government. Under the GST Composition Scheme, the taxpayer will be required to file one just return in every three months (quarter) instead of three returns in consistently similar to the case for a standard merchant. In any case, not all organizations will be qualified to enlist under the GST structure conspire - just those business elements, for whom the yearly turnover is underneath INR 1 Crore and who likewise satisfy other determined criteria can be qualified for enrolling under the Composition Scheme.
One of the keys focuses to be noted here is, that merchants under the organization plan will be required to pay taxes at settled rates, without availing input tax credit office.

Who ought to do GSTR - 4 Filing? 

Any tax paying person picking the Composition Scheme is required to do GSTR-4 filing, aside from:

• Input Service Distributors
• Non-resident Taxable Person 
• Taxpayers liable to deduct TDS 
• Taxpayers liable to gather TCS 
• Compounding taxable individual 
• Providers of OIDAR (Online Information and Database Access or Retrieval) 

when is the GSTR - 4 last date? 

The due date for filing GSTR 4 is eighteenth of the month after the end of the third month. The GSTR-4 due date for the quarter of July 2017 to September 2017 is 24th of December. For the third quarter i.e. for OND, the due date is eighteenth January 2018, as specified earlier.

What if GSTR 4 filing is not done? 

As a penalty pay INR 200 every day, up to a max penalty of INR 5,000 if GSTR-4 isn't filed. Additionally, if GSTR-4 isn't petitioned for a given quarter, at that point the citizen can't file the following quarter's arrival.

How to revise GSTR - 4? 

GSTR-4 can't be revised after filing on the GSTN Portal. Any mix-up in the arrival can be modified in the following month's arrival as it were.

Revised: Deadlines for Filing GSTR 4 Returns

Quarter	Last Date of Filing
Third Quarter	18th January 2018
Fourth Quarter	18th April 2018
April to June 2018	18th July 2018

GSTR - 4 Format 

In the GSTR-4 Return form, the Tax-payer will be required to demonstrate the aggregate value of supply made in a particular period and tax paid at the composition rate. The tax-payer will be required to insert invoice level buy subtle elements for the buys from normal tax-payers, which will be naturally updated by the GSTR-4A form, produced from the supply invoices uploaded by the opposite party in GSTR-1.

Step by step instructions to File GSTR - 4 

The GSTR-4 return form is divided into the accompanying 13 section, however, it isn't important to fill every one of these segments:

1.GSTIN: The citizen's GSTIN will be auto-populated at the season of GSTR-4 return filing
2.Name of the Taxable Person: The citizen's name will likewise be auto-populated at the season of signing into the basic GST Portal
3.Aggregate Turnover: In this area, the citizen needs to outfit points of interest of the earlier year's total turnover, and the total turnover for the time of April-June, 2017 (for the principal GSTR-4 documenting). These fields will be auto-populated for the profits of October to December period.
4. Internal Supplies including supplies on which assess is to be paid on turn around charge: All buys or internal supplies made by a business should be specified here, including:
a. Internal Supplies from Unregistered person
b. Internal Supplies from Registered Supplier (Attracting Reverse Charge)
c. Internal Supplies from Registered Supplier (Other than Reverse Charge)
d. Import of Services (subject to Reverse Charge)
5. Corrections to points of interest of internal supplies outfitted in kind for before charge periods in Table 4 (counting Debit Note/Credit Notes and their consequent revisions): Any adjustment in the subtle elements of internal supplies for prior assessment periods can be made here. The subtle elements of a receipt which should be amended like receipt sum, the measure of duty, and so forth ought to be specified in this table. Likewise, a Debit Note or a Credit Note issued by the citizen must be entered here. It will incorporate change data specified in before charge periods and furthermore unique altered of charge or credit note got, rate-wise.
6. Expense on outward supplies made (net of progress and merchandise restored): All deals made by organization merchant should be entered in this table. The aggregate estimation of the considerable number of bills of supply raised amid the quarter must be entered in the turnover field. The GST sum must be isolated into CGST and SGST/UTGST. Under this area, one should give the points of interest of outward supplies which incorporates progress and net of merchandise returned amid the present expense time frame.
7. Corrections in Outwards Supply subtle elements outfitted as reasonable exchanges for prior duty periods in Table No.6: Any change to be made to points of interest of offers gave in past returns is required to be expressed here alongside unique subtle elements. Under this area, one will have the capacity to redress the wrong subtle elements given in Table 6 in past returns.
8. Merged Statement of Advances paid/Adjusted on Account of Receipt of Supply: All advances paid for switch charge supplies must be determined here. Likewise, all advances paid on which impose was paid in before period, however, the receipt is gotten in current period ought to be entered in Table 8. This sum will be lessened from the aggregate expense obligation. All alterations to be made to propels specified in the past period's arrival ought to likewise be entered.
9. TDS Credit got: Any TDS deducted by the provider while making installment to the synthesis merchant must be entered in this table. GSTIN of the deductor, Gross Invoice esteem, and the TDS sum ought to be specified here.
10. Expense payable and paid: Total assessment risk and the duty paid must be determined in this table. IGST, CGST, SGST/UTGST and Cess must be independently said here.
11. Intrigue, Late Fee payable and paid Interest and late expenses payable for late recording or late installment of GST must be said here, including subtle elements of installment really made.
12. Discount guaranteed from Electronic money record: Any discount of abundance charges paid can be asserted here. The discount must be additionally isolated into imposing, intrigue, punishment, charges, and others. On the off chance that on the off chance that the expense obligation of the creation merchant is underneath than the TDS deducted, one can get a discount of adjusting sum. The sum which is accessible for the discount will be auto-filled under this segment.
13. Charge passages in real money record for assess/premium installment (to be populated after installment of expense and accommodation of restore): All GST installments made in real money reflect here. The installments must be additionally isolated into imposing paid through money, the premium paid and late charges paid.
When every one of these points of interest is filled in the close down with a revelation that the sum total of what data has been provided and is right. What's more, the GST Portal is additionally accessible with a GSTR-4 disconnected device in view of exceeding expectations worksheets, for simplicity of GSTR-4 documenting.

Important Terms Frequently Used in GSTR 4

• GSTIN – Goods and Services Taxpayer Identification Number
• UIN – Unique Identification Number
• UQC – Unit Quantity Code
• HSN – Harmonised System of Nomenclature
• SAC – Services Accounting Code
• POS – Place of Supply of Goods and Services
• B2B – From one registered person to another registered person
• B2C – From registered person to unregistered person