A supplier who is registered under composition scheme (a scheme for small businessmen) is required to file return (Form –GSTR4) on yearly basis but he is required to pay tax quarterly.

So, the composition supplier is required to furnish a statement in form GST CMP-08 containing details of payment of self-assessed tax.

Amendment

Earlier, persons opting for composition scheme were required to furnish GSTR-4 quarterly but now GST CMP-08 has replaced GSTR-4 and GSTR 4 is filed on yearly basis. Persons who are availing benefit of Notification No.2/2019 Dated 07-03-2019 will also file GST CMP-08.

Due Date

GST CMP-08 should be furnished by the 18th day of next month from the end of such quarter.

For example, for the quarter April to June, CMP-08 should be filed by 18th July.

Details required to be furnished in GST CMP-08

In form GST CMP-08 composition dealer is required to provide following details-

1. GSTIN
2. Legal name, trade name
3. Date of filing
4. Summary of self-assessed tax
5. Verification

How to file CMP-08

• Firstly, visit GST portal www.gst.gov.in.
• Then click on services> returns> Returns dashboard
• Select FY and return filing period and click on search button
• Choose payment of self-assessed tax, click on [prepare online button and fill the details of tax liability on sales/purchases falling under reverse charge and interest payable
• You can also file nil return, select the checkbox file nil GST CMP-08.
• Now click on save button
• To download draft, click on preview draft GST CMP-08
• Click on proceed to file and payment of tax
• Cash balance in electronic cash ledger is reflected
• And now you are ready to file your CMP-08 by using DSC or EVC.
• Now you will get a success message with ARN, and you can download filed GST CMP-08

Nil GST CMP-08

Filing of GST CMP-08 is mandatory for all taxpayers who have opted to pay tax under composition scheme even if there is no business activity in any particular tax period. For that tax period a Nil GST CMP –08 is required to be filed. A nil GST CMP-08 does not have any entry in any of its tables.

A nil GST CMP-08 can be filed through an SMS using the registered mobile number of the taxpayer. A nil GST CMP-08 submitted through SMS is verified by registered mobile number using OTP facility.

GST CMP-08 for the period prior to exit from composition scheme

A registered person opting to withdraw from composition scheme as his own motion or on the direction of proper officer is required to furnish GST CMP-08 relating to period prior to hie exit from composition scheme till 18th of the next month from end of such quarter in which the date of withdrawal falls.

Late fee

In case of late filing of GST CMP-08 penalty of 100 rupees in CGST act and 100 rupees under SGST act will be levied up to a maximum of 5000 rupees.

Important sections