New ITR 4 form is asking for GST number

#1

F&O traders don’t need GST number to the best of my knowledge and I had been filing ITR 4 up until last year but this year GST number has been made compulsory in the form. What is the solution?

#2

Good question

@TAXIQ.IN
Could you plz advise?

#3

GST Number is applicable only if its applicable. Its not in the Mandatory field. The New ITR 4 ie presumptive is same as normal ITR as you need to fill Balance sheet details.

#4

GST number does not seem to be optional. The Java Utility validation fails if you do not mention GST number.

Please check screenshot here:

If there is a way to bypass this, please let me know. Thanks.

#5

Is your turnover more than 20 lakhs? Does the verification succeed if you enter turnovee as less than 20 lakhs?

1 Like
#6

Yes turnover is more than 20 lakhs. I thought the turnover limit for ITR4 was 2 crores.

#7

GST registration is compulsory when turnover is more than 20 lakhs. You can check if ITR verification succeeds without GSTR number when turnover is less than 20 lakhs.

However, I do not see how stock traders could be asked GST return. Should we register for GST number and file GSTR? That is too much. I hope ITRs will be updated not to require GSTR. Lets wait for ITR3 also and see how that works.

1 Like
#8

I checked ITR 3 from incometaxindia.gov.in website. It does not ask for GSTR number. So I believe ITR 4 being presumptive return form, the GSTR number is required for cross verification.

This might also mean stock/FnO traders may not be eligible for presumptive scheme under section 44AD. That is we might have to file ITR 3 only.

#9

@anupd1990 Did you find any solution to filing ITR-4 presumptive income without GST number? If income is above 20L but exempt from GST.

#10

Unfortunately I did not because the Income Tax law requires that you have a GST number if your gross annual turnover exceeds 20 lakh in any business.

Trading is a special case where GST is not applicable but I don’t think the IT department is willing to make an exception for one profession out of thousands.

So the only solution for me was to file ITR-3 and use the presumptive income (44AD) provisions provided therein to get the same benefit. However, ITR-3 is a ridiculously complex form. It took me a long time to research and understand everything in the form. If you aren’t willing to invest the time, please get in touch with a CA.

#11

Oh ok thanks so much for update. So if gross receipts is below 20L ITR-4 can be used without GST number?

#12

Yes. Last time I checked (just before tax filing deadline ended), IT department had released a revised ITR-4 form to allow businesses below 20L gross receipts to file ITR-4 without GST number. Unless this has changed in the meantime, you should be good to go.

#13

One thins is sure in country like India,you can never succeed we should make them punch one trade and see how their heartbeats

#14

So by turnover you mean turnover as per varsity?