{"id":16253,"date":"2020-09-12T11:00:42","date_gmt":"2020-09-12T05:30:42","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=16253"},"modified":"2020-09-11T16:32:32","modified_gmt":"2020-09-11T11:02:32","slug":"new-functions-for-tcs-and-filing-form-gstr-4-annual-return","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/new-functions-for-tcs-and-filing-form-gstr-4-annual-return\/","title":{"rendered":"CBIC enables New Functions for TCS and Filing Form GSTR-4 Annual Return by Composition Taxpayers"},"content":{"rendered":"\n<p class=\"has-drop-cap\">The Central Board of Indirect Taxes has made available the new functionalities for Tax Collection at Source (TCS) and Composition Taxpayers. The Central Board of Indirect Taxes has also enabled the filing Form GSTR-4 Annual Return by Composition Taxpayers on <a href=\"https:\/\/corpbiz.io\/gst-registration\"><strong>Goods and Services tax<\/strong><\/a> Portal. <\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/new-functions-for-tcs-and-filing-form-gstr-4-annual-return\/#Provision_to_amend_Form_GSTR-8\" >Provision to amend Form GSTR-8<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/new-functions-for-tcs-and-filing-form-gstr-4-annual-return\/#What_is_Form_GSTR-4_Annual_Return\" >What is Form GSTR-4 Annual Return?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/new-functions-for-tcs-and-filing-form-gstr-4-annual-return\/#Other_Important_Highlights\" >Other Important Highlights<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/new-functions-for-tcs-and-filing-form-gstr-4-annual-return\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Provision_to_amend_Form_GSTR-8\"><\/span>Provision to amend Form GSTR-8<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>Earlier, the TCS (e-commerce operators) could amend the details only once. Based on requests received from the <strong><em>stakeholders<\/em><\/strong><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Stakeholder\"><strong><em>[1]<\/em><\/strong><\/a><\/sup>, the restriction of amending the transaction details only once, in Form GSTR-8, has now been removed.<\/li><li>As a result, in Form GSTR-8, now can be amended multiple times, e-commerce operators liable to collect the tax at source <strong>under section 52<\/strong>, while filing Form GSTR-8.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">TCS (Tax Collection at Source) facility has extended to composition\ntaxpayers<\/h3>\n\n\n\n<ul><li>The taxpayers under the composition scheme are permitted to make supplies through E-Commerce Operators. <\/li><\/ul>\n\n\n\n<div class=\"shadow1\"><strong>For example:<\/strong> Restaurant Services would now be able to view and take necessary actions in their TDS and TCS credit received form.<\/div>\n\n\n\n<ul><li>E-commerce operators will now be able to add GSTIN of such composition suppliers, in Form GSTR-8.<\/li><li>The amount of a tax collected at source (TCS), is reported by E-Commerce Operators in Form GSTR-8. Now it will be mentioned in TDS and \u2018TCS credit received&#8217; Form of the respective composition taxpayers.<\/li><li>The amount that is reported by e-commerce operators will now be available to respective composition taxpayers, for accepting or rejecting the same in TDS and TCS credit received&#8217; Form.<\/li><li>For accepted transactions, the amount will be credited to the cash ledger of composition taxpayers, after the successful <a href=\"https:\/\/corpbiz.io\/tds-return-filing\"><strong>filing of TDS<\/strong><\/a>\/ TCS Credit received Form.<\/li><li>For any rejected transactions, the amount will be shown to e-commerce operators for correction.<\/li><\/ul>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/provisions-for-availing-2-gst-registration-on-one-pan-card\/\">Know the Provisions for availing 2 GST Registration on One PAN Card<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_Form_GSTR-4_Annual_Return\"><\/span>What is Form GSTR-4 Annual Return?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>All the Composition Taxpayers are required to file Form\nGSTR-4 Annual Return, for each financial year, on an annual basis, with effect\nfrom April 1st 2019.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Who has to file Form GSTR-4 Annual Return?<\/h3>\n\n\n\n<p>All the registered taxpayers have opted for composition\nscheme under GST, for any period during a financial year, starting from 1st\nApril 2019. They need to file Form GSTR-4 Annual Return, annually.&nbsp;&nbsp; <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Who requires to file NIL Form GSTR-4 Annual Return?<\/h3>\n\n\n\n<p><em><strong>A Nil Form GSTR-4 Annual Return can be filed for the financial year, if:<\/strong><\/em><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"540\" height=\"287\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/09\/image-52.png\" alt=\"file NIL Form GSTR-4 Annual Return\" class=\"wp-image-16254\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/09\/image-52.png 540w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/09\/image-52-300x159.png 300w\" sizes=\"(max-width: 540px) 100vw, 540px\" \/><\/figure><\/div>\n\n\n\n<div class=\"shadow1\"><strong>Note:<\/strong> The due date for filing Form GSTR-4 Annual Return is 30th of the month succeeding the financial year or as can be extended time to time by the Government. For FY 2019-2020, it has to be filed by 31st October 2020.<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Other_Important_Highlights\"><\/span>Other Important Highlights<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>Form GSTR 4 can be filed when all applicable\nquarterly statements in Form CMP 08 of the financial year, have been filed.<\/li><li>Form GSTR-4 Annual Return, can&#8217;t be revised if\nonce filed.<\/li><li>After successfully filing, the ARN will be\ngenerated and intimated via email and SMS<\/li><li>Currently, online filing has been enabled on the\nportal. After some time, an offline filing of Form GSTR-4 Annual Return will be\nmade available.<\/li><li>Is it different from Form GSTR-4 Quarterly Return?\nThe Form GSTR-4 Annual Return is different from the Form GSTR-4 Quarterly\nReturn as follows. <\/li><li>Form GSTR-4 Quarterly Return is applicable, for\ncomposition taxpayers, up to the tax period ending on 31st March 2019.&nbsp; <\/li><li>Composition Taxpayers have to file Form GSTR-4\nQuarterly Return (which is also available on the GST portal), for tax periods\ntill the quarter ending March 2019. <\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The provision for TCS (e-commerce operators) which earlier could be altered only once has now been removed. Hence, filing in Form GSTR-8 now can be altered multiple times, and e-commerce operators liable to collect the tax at source under section 52, while filing Form GSTR-8.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/cbic-directs-to-clear-pending-gst-registration-under-special-drive\/\">CBIC directs to clear pending GST registration under special drive<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Board of Indirect Taxes has made available the new functionalities for Tax Collection at Source (TCS) and Composition Taxpayers. The Central Board of Indirect Taxes has also enabled the filing Form GSTR-4 Annual Return by Composition Taxpayers on Goods and Services tax Portal. Provision to amend Form GSTR-8 Earlier, the TCS (e-commerce operators) [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":16268,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[16,153],"tags":[884],"acf":{"service_id":"96"},"authorName":"Soumya Bajpai","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/01\/0.jpg","authorDescription":"Soumya has done LLB (Hons) and has a 2+years experience in writing. Her main interest is in reading judgments, new enactments and amendments taking around in law. She always strives to bring the best to work that she does.","postViews":3237,"readingTime":3,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/16253"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=16253"}],"version-history":[{"count":4,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/16253\/revisions"}],"predecessor-version":[{"id":16258,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/16253\/revisions\/16258"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/16268"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=16253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=16253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=16253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}