GST Series – Part 26 – Furnishing of Return by Composition Dealer under GST– Section 39(2) of CGST Act 2017
1. The taxpayers who have opted GST Composition scheme are required to file only one return in every financial year.
2. Statutory Provisions-
| Section 39(3) | A registered person paying tax under the provisions of section 10, shall, for each financial year furnish a return, electronically, of turnover in the State, inward supplies of goods or /and services, tax payable, tax paid, and such other particulars as may be prescribed. |
| Rule 62(1)(i) | The taxable persons paying tax under composition scheme or simplified scheme for suppliers of service under Notification No. 2/2019-CT (Rate) dated 7-3-2019 are required to file a quarterly statement in form GST CMP-08 within 18 days from the end of quarter.- amended w.e.f. 23-4-2019. |
| Rule 62(1)(ii) | The taxable persons paying tax under composition scheme or simplified scheme for suppliers of service under Notification No. 2/2019-CT (Rate) dated 7-3-2019, are required to file yearly return in form GSTR-4 before 30th April following the end of the financial year |
| The persons paying tax under composition scheme are required to file yearly return, but tax is payable by them every quarter | |
Read more on: https://taxguru.in/goods-and-service-tax/furnishing-return-composition-dealer-section-392-cgst-act-2017.html
© 2018 CA Chandan Agarwal. All rights reserved.