22nd July 2K20
Ø Economic crisis temporary, India still remains fastest growing economy: Nitin Garkari
Ø Govt open to announcing more measures: FM
Ø Fading into obscurity is becoming a real worry for Vodafone Idea
Ø Airtel renews pan-India pact with Ericsson
Ø IHCL announces acquisition of Sea Rock hotel
Ø Cairn Energy says arbitration ruling expected soon on its challenge to Indian govt seeking Rs 10,247 crore
Ø Axis Bank Q1 profit down 19% on higher provisions, other income also dips
Ø India, US closing in on a trade deal after two years of negotiations: Goyal
Ø SBI Card Board approves raising Rs 1,500 cr via non-convertible debentures
Ø Biocon diversifies business model, enters digital therapeutic segment
Ø FPO strengthens Yes Bank's capital, reduces risks for creditors: Moody's
Ø HUL Q1 consolidated net rises 5.7 per cent to ₹1,897 crore
Ø Passenger vehicle registrations in June decline 38% year-on-year
Ø Two entities stake claim to restart Jet Airways
Ø Hindustan Zinc Q1 net profit drops 23 per cent to ₹1,359 cr
Ø Tata Communications gets local telecom licence in Saudi Arabia
Ø Bharat Bond ETF tranche II oversubscribed 3.7 times, mobilises around ₹11k cr
Ø Adevinta buys eBay's classifieds unit in $9.2 billion deal
Ø Mutual funds reduce exposure to NBFCs by half in two years
Ø SBI Life Q1 results: Net profit rises 5% to ₹390 crore
Ø Investment app Scripbox to debut in UAE and Singapore
Ø Employment sentiment showing signs of gradual improvement: Report
Ø Higher forex kitty to lower borrowing cost, net more foreign funds: Report
Ø ICICI Prudential Life June quarter net profit marginally up at Rs 288 crore
Ø Jubilant Generics gets DCGI nod to manufacture COVID-19 drug Remdesivir
Ø India seeks concession from US for generic drugs export
Ø Novartis profits rise despite coronavirus sales swings
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Filing Form GSTR-4 Annual Return by Composition Taxpayers on GST Portal
1. What is Form GSTR-4 Annual Return:-
With effect from April 1st 2019, all Composition Taxpayers are required to file Form GSTR-4 Annual Return, on annual basis, for each financial year.
2. Who are required to file Form GSTR-4
Annual Return:- All registered taxpayers who have opted for composition scheme or were under composition scheme under GST, for any period during a financial year, starting from 01.04.2019, need to file Form GSTR-4 Annual Return, annually.
3. Who can file NIL Form GSTR-4 Annual Return:-
Nil Form GSTR-4 Annual Return can be filed for the financial year, if you have, for all applicable quarters of the year:
NOT made any outward supply
NOT received any goods/services
Have NO other liability to report
Have filed all Form CMP-08 as Nil
4. Due date of Filing:-
The due date for filing Form GSTR-4 Annual Return is 30th of the month succeeding the financial year or as extended by Government, from time to time. For FY 2019-20, it has to be filed by 31/08/2020.
5. Filing Form GSTR-4 Annual return:-
Logon to your dashboard, click on Services > Returns > Annual Return >Select FY>Search>GSTR 4> FILE THE RETURN.
6. Some important Points:-
Form GSTR 4 can be filed only if, all applicable quarterly statements in Form CMP 08 of that financial year, have been filed.
Form GSTR-4 Annual Return, once filed, can’t be revised
After successfully filing, ARN will be generated and intimated through email and SMS
Currently only the online filing has been enabled on the portal. Shortly, offline tool to file Form GSTR-4 Annual Return will also be made available.
7. How it is different from Form GSTR-4
Quarterly Return:- Please note that this Form GSTR-4 Annual Return is different from the Form GSTR-4 Quarterly Return, which was required to be filed on a quarterly basis.
Form GSTR-4 Quarterly Return is applicable up to tax period ending on 31st March, 2019, for composition taxpayers.
For tax periods till the quarter ending March, 2019, Composition Taxpayers are required to file Form GSTR-4 Quarterly Return (which is also available on the GST portal), on quarterly basis. Whereas from 01.04.2019, composition taxpayers are required to file Form GST CMP 08, on quarterly basis.
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