29 April 2021
sir, a gst registered composite scheme dealer purchases of motor cycle value Rs:85,000/- aginst on firm name show procedure in gstr4 annual return 20-21.
10 July 2024
For a GST registered composite scheme dealer, reporting purchases of goods like a motor cycle in GSTR-4 annual return for the financial year 2020-21 involves summarizing the details of inward supplies. Here’s how you can show this purchase in GSTR-4:
### Steps to Show Motor Cycle Purchase in GSTR-4 Annual Return:
1. **Navigate to GSTR-4 Return:** - Log in to the GST Portal and go to the GSTR-4 section under Returns.
2. **Access the Return Dashboard:** - Go to the applicable financial year (2020-21 in this case) and access the dashboard for GSTR-4.
3. **Enter Inward Supplies (Goods):** - In the GSTR-4 return form, you need to enter details under the relevant sections. For the purchase of the motor cycle valued at Rs 85,000: - Navigate to the section where you can declare details of inward supplies under the composite scheme. - Enter the GSTIN of the supplier, invoice number, date, and the value of the motor cycle (Rs 85,000).
4. **Tax Details:** - Since you are a composite scheme dealer, you will not be eligible to claim Input Tax Credit (ITC) on purchases. Ensure that you do not claim any ITC against this purchase in GSTR-4.
5. **Check for Validation Errors:** - After entering the details, the GST Portal will perform validation checks. Resolve any errors or warnings if prompted.
**Preview and Submit:** - Once all details are entered correctly, preview the GSTR-4 form to ensure accuracy. - After verification, digitally sign the form and submit it.
**Payment of Tax:** - As a composite scheme dealer, you are required to pay tax based on your turnover. Ensure that the tax liability for the quarter is correctly calculated and paid.
**Save Acknowledgment:** - After successful submission, save the acknowledgment receipt for your records.
### Additional Tips:
- **Accuracy of Details:** Double-check all details entered in GSTR-4 to avoid discrepancies. - **Timely Filing:** Ensure that the GSTR-4 for the relevant quarter is filed within the due date to avoid penalties.
By following these steps, you can effectively report the purchase of the motor cycle in your GSTR-4 annual return for the financial year 2020-21 as a composite scheme dealer. If you encounter any specific issues or require further assistance, consulting with a GST professional or using the help resources on the GST Portal can be beneficial.
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