The Union government has further extended the deadline for filing the new GSTR-4 annual return for businesses registered under the composition scheme for FY 2019-20 to October 31, 2020.
This is the second extension given by the Government. The original deadline for filing the return was July 15, which was earlier extended till August 31.
The Central Board of Indirect Taxes and Customs (CBIC) in a tweet said, ‘Last date GSTR 4 for FY 2019-20 extended to 31st October 2020’.
Goods and Services Tax (GST) composition scheme can be opted by any taxpayer whose turnover is up to Rs 1.5 crore. Composition dealers under GST can pay a nominal tax along with a statement-cum-challan known as CMP-08 once in every quarter. Once the financial year is over, they have to file return in form GSTR-4 by summing up details declared in the four quarterly statements in form CMP-08.
GSTR-4 used to be a quarterly return till FY 2018-19, before being converted into annual frequency from FY 2019-20 by the Central Board of Indirect Taxes & Custom (CBIC).