Under Composition scheme, GSTR 4 requires to be file on quarterly basis. Q. What if i don't file GST Return ? Non-filing of GST return on time will attract a penalty of 20-50 per day until GST return for such month/ quarter not filed. Q. My turnover is not exceeding INR 20...
2. Composition Scheme GST Registration The composition scheme for GST registration is designed for small businesses or taxpayers with a turnover of less than Rs. 1.5 crore. This scheme simplifies compliance with minimal paperwork and fewer GST returns to file. Additionally, it allows businesses to ...
GST-2, and GST-3), and one annual return(GST-9). But in case you have applied for a composition scheme under GST, filing gets more manageable, as you need to file one quarterly return(GSTR-4) and one annual return(GSTR - 9A). ...
Also, there is GST CMP 08 for the composition scheme dealers but it has to be filed every quarter lowering the need for regular updates on the GST due date filing calendar. GST Return Form NameFiling PeriodDue Date in December 2024 GSTR 07 Monthly (November 2024) 10th December GSTR 08 ...
The defaulter has 15 days from receiving a GSTR-3A notification to file the return and pay any applicable fines and late fees. To whom must GSTR-4 be submitted? If a taxpayer selects the composition plan, they are required to submit GSTR-4. ...
All the taxpayers who have opted for the GST composition scheme in the new tax regime must file quarterly returns using the GSTR-4 form to avoid any penalty. Underneath, you can figure out the key differences between the Gen GST, and ClearTax GST software related to GSTR- 4 features: ...
Services available on GST Portal - Application for Registration, Opting for Composition Scheme, Application for GST Practitioner, Opting out of Composition Scheme, Stock intimation for Composition Dealers, Filing GST Returns, Payment of GST, Claim Refund of excess GST paid, etc. ...
GSTComposition Scheme Composition is a method of levy of taxes designed for small taxpayers whose turnover is up to Rs. 75 lakhs ( Rs. 50 lakhs in case of few States). Read More GSTReturns A regular taxpayer needs to furnish monthly returns and one annual return under GST. The whole pro...
Window to opt for Composition Scheme has been made available on the official GST portal for the year 2022-23. Eligible taxpayers can apply before 31st March 2022. GST enables a new facility for filing LUT (Letter of Understanding) for the financial year 2022-23. Module wise new functionalities...
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