Composition/Presumptive scheme taxpayers to file return annually and make payment quarterly:
Registered person paying tax under section 10 shall electronically furnish-
- A statement in the prescribed form (GST CMP-08) containing details of payment of self-assessed tax, for every quarter (or part of the quarter), by 18 lay of the month succeeding such quarter;
- Return (GSTR 4) for every financial year (or part of the financial year), on or before 30 day of April following the end of such financial year.
Payment of tax, interest, etc. by Electronic Cash Ledger:
Every registered person furnishing the Statement under Rule 62(1) shall discharge his liability towards tax or interest payable by debiting the Electronic Cash Ledger.
Contents of Information:
The return furnished shall include the-
- Invoice wise inter-State and intra-State inward supplies received from registered and un-registered persons and
- Consolidated details of outward supplies made.
Obligation to furnish additional returns by composition/presumptive scheme supplier who opts under the scheme from beginning of Financial Year
A registered person who has opted to pay tax u/s 10 from the beginning of a financial year shall, where required, furnish the details of outward and inward supplies and return under rule 59, 60 and 61 relating to the period during which the liable to furnish such details and returns till the due date of furnishing the return for the month of September person was of the succeeding financial year or furnishing of annual return of the preceding financial year, whichever is earlier.
ITC not Available
Here, the person shall not be eligible to avail ITC on receipt of invoices or debit notes from the supplier for the period prior to his opting for the composition scheme
Furnishing of details on opting out of composition scheme [Rule 62(5)]:
A registered person opting to withdraw from the composition scheme at his own motion or where option is withdrawn at the instance of the proper officer shall, where required, furnish a statement in the prescribed form for the period for which he has paid tax under the composition scheme till 18 day of the month succeeding the quarter in which the date of withdrawal falls and furnish GSTR 4 for the said period till the 30° day of April following the end of the financial year during which such withdrawal falls.
