Synopsis of Extension of Due Date for ITC-04 September2020
CBIC released Notification No. 87/2020-Central Tax dated 10th November, 2020 for extension of Due Date for FORM GST ITC-04 for the quarter ending September 2020 (from July, 2020 to September, 2020).
Following questions emerge out of this-:
♦ Define principal, job work and job worker?
As per section 2(88) of CGST Act, 2017, “principal” means a person on whose behalf an agent carries on the business of supply or receipt of goods or services or both;
As per section 2(68) of CGST Act, 2017, “job work” means any treatment or process undertaken by a person on goods belonging to another registered person and the expression “job worker” shall be construed accordingly;
♦ Who is required to file FORM GST ITC-04?
A registered Principal or Manufacturer is required to file FORM GST ITC-04.
♦ Who is responsible for keeping proper accounts of goods lying with job-worker?
As per section 143(2) of CGST Act, 2017, the responsibility for keeping proper accounts for the inputs or capital goods shall lie with the principal.
♦ What is the relevance of Deliver Challan w.r.t. job-work?
Inputs, semi-finished goods or capital goods shall be sent to the job worker under the cover of a delivery challan issued by the principal. Delivery challan is required even if such inputs/capital goods are sent directly to a job-worker. Details of delivery challan generated by the principal for the job work are also required to be furnished in Form GSTR-1. The delivery challan shall be prepared in triplicate, in the following manner:–
(a) The original copy marked as ORIGINAL FOR CONSIGNEE;
(b) The duplicate copy marked as DUPLICATE FOR TRANSPORTER; and
(c) The triplicate copy marked as TRIPLICATE FOR CONSIGNER.
♦ What details are required to file in FORM GST ITC-04?
The details of challans issued by principal during the quarter w.r.t. job work are required to file in respective tables of FORM GST ITC-04.
♦ What are the contents of FORM GST ITC-04?
Following are the contents of FORM GST ITC-04:-
- Table 4 : Details of inputs/capital goods sent for job work (includes inputs/capital goods directly sent to place of business/premises of job worker)
- Table 5A: Details of inputs/capital goods received back from job worker to whom such goods were sent for job work; and losses and wastes:
- Table 5B: Details of inputs/capital goods received back from job worker other than the job worker to whom such goods were originally sent for job work; and losses and wastes:
- Table 5C: Details of inputs/Capital goods sent to job worker and subsequently supplied from premises of job worker; and losses and wastes:
♦ What is the due date?
The Due Date for FORM GST ITC-04 is 25th of the month succeeding a quarter. Accordingly, the Due Date for FORM GST ITC-04 for the period July, 2020 to September, 2020 is 25th October, 2020.
♦ What is the extended Due Date?
The Due Date for FORM GST ITC-04 for the period July, 2020 to September, 2020 is extended to 30th November, 2020 by Notification No. 87/2020-Central Tax dated 10th November, 2020 and this notification shall be deemed to have come into force with effect from the 25th day of October, 2020.
♦ What will be the late fee if filed after the extended due date?
No late fee for FORM GST ITC-04 is prescribed under Section 47 of the CGST Act, 2017.
♦ What shall be the interest if filed after the extended due date?
No interest is applicable on delayed filing of FORM GST ITC-04.
♦ Where to file FORM GST ITC-04 on portal?
Login GST portal on gst.gov.in > Services > Return > ITC Forms > GST ITC-04 >
Select Prepare Online > Select Financial Year and Return Filing Period > Fill the details
OR
Select Prepare Offline > Select Financial Year and Return Filing Period > Upload details
> Check Details > File it with EVC or DSC, as applicable.
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