What is CMP 08? How to File CMP 08?

GST CMP-08 Form was introduced in April 2019 to simplify the compliance process for composition dealers. It replaced the erstwhile quarterly GST-4 filed by composition dealers and made applicable from FY 2019-20 onwards.

What is Form CMP-08?

GST CMP-08 is a special statement cum challan form for composition dealers to declare the details or summary of their self-assessed tax to be paid for a given quarter. Besides, the CMP-08 form acts as a challan to make payment for tax.

Who should File Form CMP 08?

A registered taxpayer selected for the composition scheme should file CMP-08 for depositing payments every quarter. Two kinds of taxpayers register by means of CMP-02 (opt under Composition scheme)

• The supplier of goods including manufacturer or retailers with an annual aggregate turnover of up to 1.5 crores (it is 7.5 lakhs for special category states except for Jammu &Kashmir and Uttarakhand:) In the last financial year, except

1. Icecream, pan masala, and tobacco manufacturers
2. A person making interstate supplies
3. A supplier where goods are not taxable under GST law
4. A casual taxable person or a non-resident taxable person.
5. Businesses that supply goods via an e-Commerce operator

• The service supplier who meets the criteria mentioned under the notification NO 2 /2019 Central Tax (Rate) dated 7 March 2019 with an aggregate turnover up to Rs 50 lakh in the last financial year.

Due Date to File the Form CMP-08

CMP-08 form has to be filed on a quarterly basis on or before the 18th of the month following the quarter of any particular FY.

What is the Penalty unless Form CMP-08 is filed within the Due Date?

If the CMP-08  due date is over, the taxpayer would be liable to pay a late fee of Rs 200 per day for the delay. Rs 100 per day each for CGST and SGST.IGST act says that an amount is the same as the late fee for CGST and SGST act that is Rs 200 per day for the delay. The maximum penalty for the late fee would be up to 5000 from the beginning of the due date to the actual filing date of the taxpayer. Along with the late fee. The taxpayer should pay an interest of 18% per annum if he does not pay before the due date. Interest is calculated based on the amount to be paid by the taxpayer. Besides, unless CMP-08 is not filed for two consecutive quarters, the e-way bill generation would be blocked. In order to unblock, the taxpayer is required to apply to the tax official under the jurisdiction in Form GST EWB 05. They are also needed to file all remaining forms for previous quarters. If there is no transaction in the period, then the taxpayer has to file a NIL return for a CMP-08 late fee waiver.

How to File a CMP-08 Form by a Taxpayer?

A registered taxpayer is needed to file the following details for filing the form CMP-08. Let us see how to file CMP-08 through the following steps.

• Step1: Firstly, The taxpayer has to give his GSTIN details. Look at the figure given below to get a better understanding.

• Step 2: After the GSTIN is provided, the legal name and trade name would be auto-filled. The same statement would be updated for the Application Reference Number (ARN) and filing date after the payment is done.

• Step 3: The third table in the form shall have the summary of the self-assessed tax liability. A registered taxpayer is required to furnish the details regarding outward supplies on which the tax is paid by him including the inward supplies on which tax is paid on reverse charge and imports. Moreover, the tax paid on these and the interest paid should be reported. See the image given below for a better understanding.

• Step 4: In the final step, the taxpayer should furnish a self-declaration and verify the details by signing the form.

A thing has to be noted that a taxpayer could file ‘NIL return' in case the tax liability is zero for a given quarter.  A NIL CMP-08 could be filed via SMS.

How to File CMP 08 Form on GST Portal?

Let us see how to file CMP-08 in GST portal through steps in detail.

Steps to File CMP-08

• Step 1: Firstly login to the GST portal and go to the CMP-08 tile on the return dashboard after clicking services. Choose a suitable financial year and select the return filing period for the related quarter. Then proceed by clicking on ‘search’. Click on ‘PREPARE ONLINE’ for the CMP-08 form (self-assessed tax payment).
• Step 2: Fill in the details of tax liability in table 3 of the CMP-08 form.

Provide the summary figures of the value of supplies and tax to be paid for three months. If any delay in submission of CMP-08 after the applicable due date, enter the interest amount. Tick the checkbox in ‘File Nil GST CMP-08’ in the following cases:

1. If the taxpayer has no outward supplies in the course of the return period and no tax payable accordingly.
2. If the taxpayer has no outward tax liability owing to not having inward supplies on the payable tax on reverse charge basis.(service imports)
3. If the taxpayer doesn’t have any liability of tax.

Then click on ‘SAVE’ to saving the given details.

• Step 3: After clicking ‘save’. Then click on ‘PREVIEW DRAFT GST CMP-08’’ to cross check the given details.
• Step 4: Then proceed to make payments towards the liability and file GST CMP-08.

A taxpayer could make payment either via cash balance remaining in the electronic cash ledger or use the ‘create challan’ option for selecting either the Net banking or NEFT if there is no adequate cash in the cash ledger. Confirm the details through the declaration statement by ticking it. Then, submit the CMP-08 form by means of electronic verification code (EVC) or digital signature (DSC).  You could confirm the message after filing CMP-08. Then GSTIN generates an ARN on the successful filing of CMP-08. An SMS and an email would be sent to the taxpayer on his registered mobile number and email id.

Read More:

• GST Composition Scheme
• Form CMP 01, CMP 02