Oct 14, 2017
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GST Quarterly return: Form submission by composition supplier quarterly

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GST Quarterly return

GST quarterly return article is mainly talks about the rules that are revised by the GST council.  Furthermore, to help the supplier for filing the quarterly supply of return. Under GST , the council has clearly stated the types and forms so required to file the return.  However, Only registered person has right to claim and filed for return under GST India. RULE-4 of GST Revised Return Rules deals with GST quarterly return.

Which FORM is applicable to file GST quarterly return supplies?

RULE- 4 Form and manner of submission of quarterly return by the composition supplier

Form(Electronically) Quarterly

Content with reference to section 10- composition levy of GST act

FORM GSTR-4

Furnish Detail Quarterly by Every registered person paying tax under section 10 shall, after adding, correcting or deleting the details in FORM -4A

FORM GSTR-4

Thus, furnish return by discharging his liability towards tax, interest, penalty, fees or any other amount payable under the Act in return form

The return furnished under sub-rule (1) shall include, inter-alia

Registered person furnish detail of outward supply as per section 37, includes:

·        Invoice details(#)

·        Consolidated details(##)

·        Debit and credit note details it any

(#) Invoice wise details of all

               i.     Inter-State as well as intra-State supplies made to registered persons; and

             ii.     Inter-State supplies with invoice value more than 2.5 lakh rupees made to unregistered persons

(##)consolidated details of all

i.Intra-State supplies made to unregistered persons for each rate of tax;

ii. Thus State wise inter-State supplies with invoice value up to 2.5 lakh rupees made to unregistered persons for each rate of tax

Furnish the details of outward and inward supplies and return under rule 1, rule 2 and rule 3 Till the due date of furnishing the return for the month of September of the succeeding financial year

Or

Furnishing of annual return of the preceding financial year

(whichever is earlier)

what are the procedure to follow:

Rule 4 -Form and manner of submission of quarterly return by the composition supplier

(1) Every registered person paying tax under section 10 shall, after adding, correcting or deleting the details in FORM GSTR-4A, furnish a quarterly return in FORM GSTR-4 electronically through the Common Portal, either directly or through a Facilitation Centre notified by the Commissioner.

(2) However,Every registered person furnishing the return under sub-rule (1) shall discharge his liability towards tax, interest, penalty, fees or any other amount payable under the Act or these rules by debiting the electronic cash ledger.

(3) Thus return furnished under sub-rule (1) shall include, inter-alia:

a) invoice wise inter-State and intra-State inward supplies received from registered and un-registered persons;

b) import of goods and services made;

c) consolidated details of outward supplies made; and (d) debit and credit notes issued and received, if any;

(4) Thus a registered person who has opted to pay tax under section 10 from the beginning of a financial year, shall furnish the details of outward and inward supplies and return under rule 1, rule 2 and rule 3 relating to the period during which the person was liable to furnish such details and returns till the due date of furnishing the return for the month of September of the succeeding financial year or furnishing of annual return of the preceding financial year, whichever is earlier.

 

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Renuka is a Final Year LL.B. student at Siddharth College of Law. She has done her Bachelors in Banking & Insurance and has also completed her Masters in Business Management . She likes to participate in legal workshops and Moot Courts. Besides her interest in law, she has a keen aptitude for legal research and is good at putting her analysis into words.

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