The registered taxpayers who avail benefits of the notification No. 2/2019-Central Tax (Rate) dated 07th March 2019 or pay tax under the provisions of section 10 of CGST Act 2017 have been listed under ‘special category of persons’ by the CBIC. In addition, the CBIC has laid a special procedure for such individuals who file their tax returns below the composition scheme. These people can make use of Form GST CMP 08 to provide their return statements for every quarter. After every quarter on or before the 18th of the following month is the due date for submission of Form CMP 08.
What is Form CMP 08?
The Form CMP-08 is nothing but a special statement-cum challan that is used to specify the summary or details of the composition dealer’s self-assessed tax payable for a given quarter period. It can also be used as a challan to pay the tax. The composition dealer is none other but the one who has been registered under the GST composition scheme. Besides Form CMP-08, a composition dealer would also be required to file an annual return through the revised format of Form GST-4 that follows a particular financial year-end.
Who Must File CMP 08?
A registered taxpayer who has been listed under the composition scheme should file CMP 08 to transfer payments every quarterly period. There are two types of registered under the composition scheme with the use of CMP which are as follows:
- The goods supplier who has an annual aggregate turnover of up to Rs. 1.5 crore (Rs. 75 lakhs for special category states except for Uttarakhand and Jammu & Kashmir) in the previous financial year no matter if they are retailers or manufacturers, except:
- An individual undertaking inter-state supplies.
- Manufacturer of tobacco, or pan masala, ice cream, and other edible ice (whether or not containing cocoa), and manufactured tobacco substitutes.
- Companies that deliver goods through e-commerce operator
- A non-resident taxable person or casual taxable person.
- An individual delivering goods which are taxable under the Law of GST.
- The supplier of services who meet the requirements mentioned under Notification No. 2/2019 Central Tax (Rate) dated 7 March 2019 with the aggregate annual turnover up to Rs. 50 lakh in the previous financial year.
CMP 08 Due Date
Form CMP-08 is filed once every quarter. If it is for Jan to March, 18th April is the due date. But the government can extend the due date from time to time. CMP-08 challan is widely used to provide details of inward and outward supplies respectively including the tax paid along with interest payable. It is a welcome move that was established in April 2019 to make it into use from the fiscal year 2019 to 2020. Let us check out the due date to file CMP 08 for the financial year 2021-22 right below:
- 1st Quarter – April 2021 to June 2021 – due date is 18th July 2021
- 2nd Quarter – July 2021 to September 2021 – due date is 18th October 2021
- 3rd Quarter – October 2021 to December 2021 – due date is 18th January 2022
- 4th Quarter – January to March 2022 – due date is 18th April 2022
Penalty and Interest Payment When Failing to File CMP 08
Of course, a taxpayer would need to pay a penalty for not filing a CMP 08 within the due date. The penalty for not filing CMP 08 before the due date is Rs. 200 per day for the delayed days which means Rs. 100 per day under SGST and Rs. 100 per day under CGST. As per IGST Act, it is claimed to pay a penalty of an amount equal to the late fees for SGST and CGST which is Rs. 200 per day of delay. The charges of the late fee would be calculated to a total of Rs. 5,000 from the beginning of the due date to the actual CMP 08 filing date of the registered taxpayer. Besides, the e-way bill generation can also be blocked if CMP-08 of two consecutive quarters is not filed within the timeframe. In case, if you want to unblock the e-way bill generation, you would require to apply to the jurisdictional tax official in Form GST EWB 05. You might also be asked to file all pending forms for previous quarters.
How to File CMP 08 on the GST Portal?
To file CMP 08 on the GST portal, you, as a taxpayer, would need to follow the steps given below:
Step 1: A taxpayer should enter his or her GSTIN details.
Step 2: Once you enter the GSTIN number, all the primary details like the trade name and legal name will be filled in automatically. Once the payment is done, the same statement would be updated for the date of filing and ARN (Application Reference Number).
Step 3: The third step is to fill in the details or summary of the self-assessed tax liability in the form. The details should be of outward supplies and inward supplies which are taxable comprising the inward supplies with a reverse charge and imports. Besides these, the interest paid (if any) with tax paid should be reported.
Step 4: The last step is nothing but the taxpayer should confirm that he or she has done the verification of all the information provided by signing the form at the very end.
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Significant Points to a Taxpayer:
- A registered taxpayer would be liable to pay a penalty along with interest if he or she fails to file CMP 08 within the due date as mentioned above.
- If the total tax liability of the registered taxpayer is zero for a given quarter, he or she can file a ‘NIL’ return through SMS.
- When it comes to debit notes, credit notes, advances, or any rectifications, tax liabilities are included.
FAQs related to CMP 08
- What is the GST CMP-08 Format?
The GST CMP 08 Format is a statement that furnishes the information of the self-assessed tax payable for a specified quarter by registered taxpayers under the GST composition scheme. This challan can also be utilized by a composition dealer for paying tax every quarter. Moreover, a composition dealer would also be needed to file an annual return in FORM GSTR-4 in addition to giving details of GST CMP-08.
- What is the ret00009 error in CMP 08?
The error RET00009 in CMP-08 usually occurs when the return issued by the taxpayer is already under process and the attempt of submitting is done again and again. To get the request processed, the registered taxpayer should try to wait for at least a day. In case, if the error occurs, you can quote error number RET00009 when you contact customer care to resolve the problem.
- How to resolve the ret00009 error in CMP 08?
For quick resolution, it would be better to contact customer care by quoting the error number RET00009 so that they will look into the problem seriously and provide you with the solution at the right time.