Good News for Composition Dealers Under G.S.T

Now GSTR-4 is required to be filed annually & payment shall be made on Quarterly basis Vide notification no. 21/2019-Central Tax dated April 23, 2019, CBIC has notified that GSTR-4 is required to be filed on Annual basis by Composition Dealers & Service Providers paying GST @ 6% and the payment of self-assessed tax shall be made in Form GST CMP-08 on quarterly basis.
The said persons shall furnish a statement, every quarter or, as the case may be, part thereof containing the details of payment of self-assessed tax in FORM GST CMP-08 of the Central Goods and Services Tax Rules, 2017, till the 18th day of the month succeeding such quarter.
Conclusion
GSTR -4 Needs to be filed Once in a Financial Year with Due date of 30th day of April following the end of such financial year.
CMP-08 – Payment of Self assessment Tax till the 18th day of the month succeeding such quarter.
Notification Applicable – From F.Y 19-20 ( Starting From 01/04/2019 )
Notification provides a sign of relief as far as GST compliance is concerned for Composition Dealers
Visit www.papertax.in and speak to your dedicated tax adviser for any further queries with regards to Income tax & G.S.T. matters, or download paper tax mobile application from Google play store to stay updated for any legal updates
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