Relief in late fees to Taxpayers filing Form GSTR-4 or GSTR 10
What is GSTR-4? Who is required to file?
GSTR-4 is return which is filed by composition dealer. Such composition dealer is required to furnish there return once in a year, i.e. at end of year. Due date for GSTR 4 is 30th April of following financial year.
What due date of furnishing GSTR-4 financial year 2019-20?
For financial year 2019-20 due date of furnishing GSTR 4 is 31st October, 2020.
What is GSTR-10?
Any taxpayer whose registration is cancelled or who has surrendered his registration is required to furnish GSTR-10 and this return is also known as final return. GSTR 10 is required to be furnished within 3 months from date of cancellation/surrender of registration or date of receipt of order of cancellation; whichever is earlier.
If above is final return then what is difference between annual return and final return?
Annual return is required to be furnished by any person who is registered as normal taxpayer under GST. Form prescribed for it is GSTR-9; and it is required to be furnished annually. However, GSTR-10 is required to be furnished by persons whose registration has been cancelled or surrendered in Form GSTR-10.
Whether there is any update in respect of GSTR-4?
Yes, Government has issued a Notification 67/2020 dated 21/09/2020 stating that any person who has opted for composition scheme, during any period till 31st March, 2019; are provided with relaxation in payment of late fees for filling GSTR-4 provided they file there GSTR-4 which is available online between 22nd September, 2020; to 31st October, 2020. In such cases late fees will be Rs. 250/- per CGST Act, 2017 and Rs. 250/- per SGST Act, 2017. In cases where person is not liable to pay tax then late fees will be Nil.
Whether there is any update in respect of GSTR-10?
Yes, Government has issued a Notification 68/2020 dated 21/09/2020 stating that any person who has failed to file final return, within the time allowed; are provided with relaxation in payment of late fees for filling GSTR-10 provided they file there GSTR-10 which is available online between 22nd September, 2020; to 31stDecember, 2020. In such cases late fees will be Rs. 250/- per CGST Act, 2017 and Rs. 250/- per SGST Act, 2017.