Form CMP-08 is a quarterly return form to be filed by every taxpayer who has opted-in for the Composition Scheme under GST , applicable from FY 2019-2020 onwards.
In April 2019, CBIC had introduced this form CMP-08 for the composite dealers in India replacing form GSTR 4-Quarterly vide GST Notification No. 20/2019 dated 23rd April 2019
- Form CMP-08 is a quarterly return form to be filed on the 18th day of the month succeeding the quarter.
- Composite dealers will also be required to file the revised format of form GSTR-4 Annual as their Annual Returns.
- A taxpayer can file a ‘NIL’ return if his/her total tax liability is zero for a given quarter.
- Failure to file CMP-08 is subject to a penalty of Rs. 200/day (starting from the actual due date to the actual return filing date of the taxpayer)
What is Form CMP-08?
A quarterly statement cum challan, form CMP-08 shall be used to declare the self-assessed details of the tax payable by a composite dealer in the given quarter. Furthermore, the form can also be used as a challan for making payment of tax.
P.S: Although form CMP-08 replaces form GSTR-4, a composite dealer will still be required to file a revised version of the latter annually. i.e. by April 30 for the corresponding financial year.
Who Should file Form CMP-08?
Form CMP-08 is mandatory for every taxpayer who has registered himself using CMP-02 i.e. as a composite dealer which is applicable to the follows:
- The supplier (Manufacture or Retailer) of goods with an annual aggregate turnover of up to Rs 1.5 crore in the previous financial year, except:
- Manufacturer of ice cream, pan masala, or tobacco.
- A person making inter-state supplies.
- A casual taxable person or a non-resident taxable person.
- Businesses which supply goods through an e-commerce operator.
- The supplier of services, having the aggregate annual turnover up to Rs 50 lakh in the previous financial year and fulfils the conditions mentioned under the Notification Number 2/2019 Central Tax (Rate) dated 7 March 2019
How to Fill Form CMP-08?
Form CMP-08 is basically divided into the below given 4 parts, Part 3 being the crucial part, wherein the taxpayer is required to fill details such as Outward supplies, Inward supplies, and Tax paid.
- Legal Details
- Summary of Self Assessed details
What is the due date to file CMP-08?
Form CMP-08 is a quarterly return form that needs to be filed by a composite dealer by the 18th day of the month following the given quarter. However,
- Due date to file form CMP-08 for the quarter April 2019 to June 2019 – Extended from 18th July 2019 to 31st July 2019 vide GST Notification No. 34/2019-Central Tax dated 18th July 2019. This was further extended to 31st August 2019 vide GST Notification No. 35/2019-Central Tax dated 29 July 2019
- Due date to file form CMP-08 for the quarter July 2019 to September 2019 – Extended from 18th October 2019 to 22nd October 2019 vide GST Notification No. 50/2019-Central Tax dated 18th July 2019
- Due date to file form CMP-08 for the quarter October 2019 to December 2019 – 18th January 2020
- Due date to file form CMP-08 for the quarter January 2020 to March 2020 – Extended from 18th April 2020 to 7th July 2020 vide GST Notification No. 34/2020-Central Tax dated 03rd April 2020
- Due date to file form CMP-08 for the quarter April 2020 to June 2020 – 18th July 2020
- Due date to file form CMP-08 for the quarter July 2020 to Sep 2020 – 18th October 2020
What is the penalty for late payment of Form CMP-08?
A taxpayer shall be liable to pay a late fee of Rs 200/day (Rs. 100/day CGST and Rs. 100/day SGST) as a consequence to failing/ being unable to file form CMP-08 in the prescribed time. However, the late fee charges will be subject to a maximum of Rs 5,000 from the start of the due date to the actual return filing date of the taxpayer.
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