Dear sir,
please let me know about the details required to be furnished by a composite dealer in GSTR4.
Is it compulsory to give bill wise details of each & every bill of supply with HSN code?
is it mandatory to maintain the upto minute stock details for the composite dealer and to furnish the stock details in GSTR4?
is it mandatory to match the purchase with data available on the portal given by suppliers​ and if it doesn't, what the consequences are?
Kindly elaborate
thanks
GSTR-4 -Details to be furnished are as follows :
Aggregate Turnover: In this Line item, details of the previous year’s aggregate turnover, and the aggregate turnover for the period of April-June, 2017 (for the first GSTR-4 return).
In Table4, Inward Supplies including supplies on which tax is to be paid on reverse charge following details to be shown:
- All purchases made, needs to be mentioned in col. 4.
- This also includes including inward supplies from unregistered persons.
- Purchases from registered dealers will get be auto-populated based on GSTR-1 filed by the sellers.
- Inward supplies from an unregistered person are required to be furnished manually. Inward supply also includes import of services and supplies attracting tax under RCM.
- The tax to be paid under reverse charge is not covered under composition scheme. So, tax at normal rates has to be paid for RCM.
In Table-5 Amendments to details of inward supplies furnished in return for earlier tax periods in Table 4 [including Debit Note/Credit Notes and their subsequent amendments] following details to be shown :
- Any change in the details of inward supplies for earlier tax periods can be made Table 5. (May not be applicable for first GSTR-4)
- The details of an invoice which needs to be corrected like Invoice amount, tax, etc. should be mentioned in Table-5.
- Debit Note or a Credit Note issued if any has to be entered here.
In Col 6 : Tax on outward supplies made (Net of advance and goods returned) following to be shown :
- The total value of all the BOS (Bill of Supply) raised during the quarter has to be entered in the Turnover field.
- The GST amount has to be segregated into Central Tax and State/UT Tax
In Table 7, Amendments in Outwards Supply details furnished in returns for earlier tax periods in Table No.6:
Any change to be made to details of sales provided in previous returns is required to be stated here along with original details. (This may not be applicable for first GSTR-4)
In Table 8, Consolidated Statement of Advances paid/Adjusted on Account of Receipt of Supply:
- All advances paid for reverse charge supplies have to be specified here.
- All advances paid on which tax was paid in earlier period but invoice is received in current period should be entered in Table 8. This amount will be reduced from the total tax liability.
- All amendments to be made to advances mentioned in the previous period’s return should also be entered.
In Table 9, TDS Credit received if any to be shown. GSTIN of the deductor, Gross Invoice value and the TDS amount should be mentioned.
Other Table 10-13 related to Tax , Interest and Late fee payable which is self explanatory.
Hope this will help in filling up GSTR-4. Due date of GSTR-4 is 18/10/2017, so you have to planned the details accordingly. Invoice wise details needs to be furnished for Inward supply but HSN code wise detail is not required. For Outward supply details of Total sales (BOS) nees to be furnished.
It is recommeded to have all the Inward and Outward Supplies details bill wise in back end, to justify any query in future.
CAclubindia
