The GSTR 4 is a return under GST that needs to be filed once every 3 months by registered tax payers who have signed up for the composition scheme (those who opt for this scheme are known as compounding vendors).
GSTR-3 is a type of GST return that must be filed by regular taxpayers on the 20th of every month. GSTR-3 filing can be made on the GST Common Portal after filing GSTR-1 and GSTR-2 for the month. If GSTR-1 return is not filed, then GSTR-2 return cannot be filed. Hence, all regular taxpayers must file GST returns regularly every month starting with GSTR-1 filing, followed by GSTR-2 and GSTR-3 return filing.
According to GST law, every registered taxable person is require to submit “Return for Inward Supplies” in GSTR 2. The entries in GSTR 2 shall be mentioned by the buyer from 12th to 15th of the succeeding month. Adjustments, if any, is allowed to the seller in GSTR 1A on the 16th and 17th of the succeeding month after the buyer has uploaded his GSTR 2.
GSTR-1 is the monthly GST return to be filed by taxable person registered under GST. GSTR-1 will include the details of all outward supplies made in the given period.
As such, all registered taxable persons are required to file GSTR-1 by the 10th of the following month (Example: GSTR-1 for the transaction month of April has to be filed before 10th May). It is the first or the starting point for passing input tax credits to the dealers.
The integrated goods and services tax (IGST) would not be levied on sale of goods on high seas, but would have to be paid when these goods finally clear customs.
The Central Board of Excise and Customs has clarified the issue bringing much-sought relief to companies in the oil and gas, power and telecom sectors.