FY20 GST returns filing deadline for composition dealers extended to August 31

The Central Board for Indirect Taxes and Customs has issued a notification extending the deadline for filing GST returns for taxpayers who have opted for the composition scheme under the GST framework. The earlier deadline for filing GSTR4 for FY20 by composition dealers was July 15th 2020 and has now been extended to August 31st 2020. Under the composition scheme, taxpayers who have opted for this scheme can avail the benefit of reduced paperwork, lower tax liability and easier compliance. Taxpayers with an annual turnover below Rs.1.5 crore can opt for the GST composition scheme.