Mr. Jagmag is a registered dealer in Kerala paying tax under composition levy from 1 st April. However, he opts to pay tax under regular scheme from…
CA Intermediate · Taxation · MTP · September 2024
Mr. Jagmag is a registered dealer in Kerala paying tax under composition levy from 1 st April. However, he opts to pay tax under regular scheme from 1 st December. Is he liable to file GSTR-4 for the said financial year during which he opted out of composition scheme?
Suggested Answer and Working Notes:
Where a taxpayer opts to withdraw from the composition scheme, he has to file GSTR-4 for the period for which he has paid tax under the composition scheme. Such return is required to be furnished till 30 th day of April following the end of the financial year during which such withdrawal falls. Therefore, in the given case, Mr. Jagmag is liable to file GSTR-4 for the said F.Y. during which he opted out of composition scheme by 30 th April of next F.Y.
Topics: Paper 3A: Income Tax Laws, Paper 3B: Goods and Services Tax
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