Background:

During the 53rd GST Council Meeting on June 22, 2024, in New Delhi, a recommendation was made to amend Rule 62 of the CGST Rules and FORM GSTR-4. This amendment extends the due date for filing FORM GSTR-4 for composition taxpayers from April 30 to June 30 of the following financial year. This change will be effective for returns for the financial year 2024-25 onwards, providing additional time for taxpayers opting for the composition scheme to submit their returns.

Notification:

The CBIC has issued Notification No. 12/2024 – Central Tax on July 10, 2024. Under Section 164 of the CGST Act, the following proviso is added after sub-rule (1) of Rule 62:

“Provided that the return in FORM GSTR-4 for a financial year from FY 2024-25 onwards shall be required to be furnished by the registered person by the thirtieth day of June following the end of such financial year.”

Effect of the Notification:

Registered taxpayers under Section 10 of the CGST Act (Composition Levy) can now file their Annual Return in FORM GSTR-4 by June 30 of the year following the financial year, starting from FY 2024-25.