Q. Purchase of current assets show in gstr-4 return compulsory

Question

Sir,
A Registered composite dealer purchase of current assets value rs:6 lacs f.y.23-24 for business purposes  dealer tax invoice received.
Question:
Dealer current assets value show in annual return gstr-4 compulsory or not compulsory show f.y.23-24 .

Answer 1

For the financial year 2023-24, the inclusion of the value of current assets (like the purchase of Rs. 6 lakhs mentioned) in the annual return GSTR-4 by a composite dealer is not compulsory. The GSTR-4 form is designed to simplify the reporting requirements for composition dealers, focusing on turnover and tax paid. 

Regards, CA. Praveen Sharma

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