A Complete guide on “How to file form ITC-04?”

Introduction

Form ITC-04 is an important document that is required to be filed by the registered taxpayers under the Goods and Services Tax (GST) regime. This form is used for intimating the details of goods sent to job workers or received back from them during a particular quarter. In this article, we will discuss the step-by-step procedure for filing Form ITC-04.

Understanding the Form ITC-04

• Form ITC-04 is a form that needs to be filed by a registered person who has sent goods to a job worker or received goods from a job worker.
• The form needs to be filed on a quarterly basis and should contain information about the goods sent to the job worker or received from the job worker during that quarter.
• The due date for filing ITC-04 is within 25 days from the end of the relevant quarter.
• To file Form ITC-04, a registered person needs to log in to the GST portal using their credentials and select the “ITC Forms” option from the main menu.
• Next, the registered person needs to select Form ITC-04 and provide the relevant details such as the GSTIN of the job worker, the period for which the form is being filed, and the details of the goods sent or received.
• The registered person also needs to upload the relevant documents such as invoices, delivery challans, and receipts to support the information provided in the form.
• Once all the information has been entered and the documents uploaded, the registered person needs to review the form and submit it.
• After submission, the registered person will receive an acknowledgment containing a unique reference number for the filed form.
• It is important to note that failing to file Form ITC-04 can lead to penalties and may impact the registered person’s compliance rating under Goods and Services Tax.

Steps to File Form ITC-04

Steps to file form ITC-04 are listed below-:

Step 1: Determine the relevant quarter

The first step in filing Form ITC-04 is to determine the relevant quarter for which the form needs to be filed. The due date for filing ITC-04 is within 25 days after the end of the relevant quarter. For example, if you are filing the form for the quarter ending June 2023, the due date for filing ITC-04 will be 25th July 2023.

Step 2: Collect necessary information

The next step is to collect all the necessary information that is required for filling up the form. This includes details of goods sent to job workers or received back from them during the relevant quarter. You will need to have the following information ready:

• Challan numbers and dates of dispatch of goods sent to job workers
• Challan numbers and dates of receipt of goods from job workers
• HSN codes of the goods sent and received
• Quantity and value of the goods sent and received
• GSTIN of the job worker

Step 3: Login to GST portal

To file Form ITC-04, you need to log in to the GST portal using your registered credentials. Once you have logged in, navigate to the ‘Services’ tab and select ‘Returns’ from the drop-down menu.

Step 4: Select Form ITC-04

After selecting the ‘Returns’ option, you will be directed to a new page where you can select the relevant return form. In this case, you need to select ‘ITC Forms’ from the drop-down menu and then select Form ITC-04.

Step 5: Fill up the form

Once you have selected Form ITC-04, you will be directed to the form where you need to fill up the necessary details. The form consists of various fields where you need to enter the relevant information. You will need to provide details of the goods sent to job workers, goods received from job workers, and the balance of goods lying with the job workers.

Step 6: Validate and submit the form

After you have filled up all the necessary details in the form, you need to validate the form by clicking on the ‘Validate’ button. The portal will check for any errors or discrepancies in the form. If there are any errors, you need to rectify them and validate the form again.

Once the form has been successfully validated, you can submit the form by clicking on the ‘Submit’ button. After submitting the form, you will receive an acknowledgement in the form of an ARN (Acknowledgement Reference Number).

Step 7: File a revision if necessary

In case you realize that you have made an error in the form after submitting it, you can file a revision within the prescribed time limit. To file a revision, you need to select the relevant quarter and click on the ‘Amendment’ option. You can then make the necessary changes and submit the revised form.

Conclusion

Filing Form ITC-04 is a mandatory requirement for all registered taxpayers under the GST regime. The process of filing the form involves determining the relevant quarter, collecting necessary information, logging in to the GST portal, selecting Form ITC-04, filling up the form, validating and submitting the form, and filing a revision if necessary. By following these steps, taxpayers can ensure that they comply with the Goods and Services Tax (GST) regulations and avoid any penalties or legal issues.