JOB WORK ITC 04

This query is : Resolved

renukprasan (Querist)
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29 November 2024 We are a gold dealer having a turnover of more than 5 Crores in a year. Usually, we send gold for job work (both registered and unregistered) to making ornaments from bullion. as per GST act we must show in ITC-04 from when GST established i.e 2017. but we have not file since then. so its compulsory to file from fy 2017-18 till now or can we file from this year. if we compulsory file from begging then how much fine will we have to pay?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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29 November 2024 Since the introduction of GST in 2017, it has been mandatory for manufacturers to file Form ITC-04 on a quarterly basis. This means that if you have not filed since FY 2017-18, you are required to file all pending returns for each quarter up to September 2021.
With effect from 1st October 2021, the frequency of filing the ITC-04 form has been revised through the Central Tax notification number 35/2021 dated 24th September 2021, as follows-
Those with AATO more than Rs.5 crore – Half-yearly from April-September- due on 25th October and October-March due on 25th April.
If you choose to start filing from this year, you may still be liable for previous periods as the requirement is cumulative. It is advisable to file for all missed periods to avoid complications with GST authorities.
While there are no specific penalties or late fees explicitly stated for failing to file ITC-04, Section 125 of the GST Act allows for a general penalty of up to ₹25,000 for contraventions of the provisions of the Act.