• GSTIN Certificate
• Sales & Purchase Invoices
• Business turnover details
• Bank statements
• Tax payment challans
• Previous GST returns (if applicable)

⏳ GST return filing for Composition Taxpayers typically takes 3 to 5 working days, depending on document verification and submission.

⏬ Submit sales and purchase details for the quarter
⏬ Verification of invoices and turnover data
⏬ Calculation of tax liability at the applicable composition rate
⏬ Preparation of GSTR-4 and tax payment challan
⏬ Review and confirmation before submission
⏬ Filing of the GST return with the GST portal
⏬ Receipt of acknowledgment for compliance record

👉 Who needs to file GSTR-4?
All composition taxpayers must file GSTR-4 quarterly and CMP-08 for tax payment.

👉 What happens if I miss the GSTR-4 filing deadline?
Late fees and interest will apply, and continued delay may lead to penalties.

👉 Can I claim Input Tax Credit (ITC) under the Composition Scheme?
No, composition taxpayers cannot claim ITC on purchases.

👉 Is GST return filing mandatory for NIL transactions?
Yes, even if there are no sales, NIL returns must be filed.

👉 What is the tax rate for composition taxpayers?
Tax rates vary: 1% for traders, 5% for restaurants, and 6% for service providers.

👉 Can composition taxpayers make inter-state sales?
No, composition taxpayers can only sell within their registered state.

👉 How is tax paid under the Composition Scheme?
Tax is paid through CMP-08 every quarter before filing GSTR-4.

👉 Can I switch from the Composition Scheme to the Regular Scheme?
Yes, but once switched, you cannot return to the Composition Scheme within the same financial year.

👉 Is e-commerce allowed under the Composition Scheme?
No, businesses selling via e-commerce platforms are not eligible.

👉 What if I incorrectly file a GST return?
A correction can be made in the next return period, but penalties may apply.

👉 How can Company Mitra help with GST return filing?
We handle documentation, tax calculations, filing, and compliance to ensure error-free GST return submission.

📌 Who Needs to File GSTR-4?

• Composition Dealers registered under the Composition Scheme (Section 10 of CGST Act).
• Applicable to taxpayers whose turnover is up to ₹1.5 crore (₹75 lakh for specific states).
• Not applicable to regular taxpayers, Input Service Distributors (ISD), TDS/TCS deductors, and Non-Resident Taxpayers.

📌 Due Date for GSTR-4 Filing

• Annually: 30th April of the following financial year.
• Example: GSTR-4 for FY 2023-24 is due by 30th April 2024.

Get Tax-Free Exports with LUT Bonds – Hassle-Free Filing with Company Mitra!

Overview

A Letter of Undertaking (LUT) Bond is a declaration filed by exporters under GST Rule 96A to export goods or services without paying IGST. It allows businesses to conduct international trade without blocking their working capital in tax payments.

With Mitra’s expert assistance, you can file your LUT Bond quickly, correctly, and compliantly, ensuring smooth exports without tax hurdles.

Requirements for LUT Bond Filing

To file an LUT Bond, you must meet these conditions:

• The applicant must be a registered GST taxpayer.
• The entity must be engaged in exports of goods or services.
• No pending GST dues from previous years.
• The LUT must be renewed annually for continued benefits.

Benefits of Filing LUT Bonds

• Tax-Free Exports – Export without paying upfront IGST.
• Better Cash Flow – No need to block funds for tax payments.
• Quick Processing – LUT approval usually takes 3-5 working days.
• Legal Compliance – Stay aligned with GST regulations to avoid penalties.
• 100% Online Submission – No physical paperwork required.