GSTR-4 / CMP-08

GSTR-4 is the return that was to be filed by taxpayers who have opted for the Composition Scheme under GST. CMP-08 is the return which has replaced the now advance GSTR-4. The Composition Scheme is a scheme in which taxpayers with turnover up to Rs.1.5 crores can opt into and pay taxes at a fixed rate on the turnover declared.

The CMP-08 return is to be filed on a quarterly basis.

GSTR-4: Return Filing

a. What is GSTR-4?

GSTR-4 is a GST Return that has to be filed by a composition dealer. Unlike a normal taxpayer who needs to furnish 3 monthly returns, a dealer opting for the composition scheme is required to furnish only 1 return which is GSTR 4 once in a year by 30th of April, following a financial year.

b. When is GSTR-4 due?

GSTR 4 has to be filed on an annual basis.

The due date for filing GSTR 4 is 30th of April following the relevant financial year. For example, the GSTR-4 for FY 2019-20 is due by 30th April 2020*. Until the FY 2018-19, the due date was 18th of the month after the end of the quarter.

*Note: The time limit to file GSTR-4 annual returns for the FY 2019-20 by the composition dealers has been extended till 15th July 2020 via CBIC notification dated 3rd April 2020.

c. Who should file GSTR-4?

A taxpayer opting for the Composition Scheme is required to file GSTR-4. It also covers the special composition scheme notified for the service providers vide the CGST (Rate) notification number 2/2019 dated 7th March 2020 with effect from FY 2019-20.

d. How to revise GSTR-4?

GSTR 4 cannot be revised after filing on the GSTN Portal.

e. Late Fees and Penalty

A late fee of Rs. 200 per day is levied if the GSTR-4 is not filed within the due date.

The maximum late fee that can be charged cannot exceed Rs. 5,000.

Due Dates of Filing GST Returns

These returns are as per the CGST Act*