How do I file a GST return on CMP-08?
How to file CMP-08 on GST portal
- Step 1: Log in to GST portal and navigate to the CMP-08 tile on the return dashboard.
- Step 2: Fill up the tax liability details in table 3 of the CMP-08 form.
- Step 3: Preview draft CMP-08 before making the tax payment.
- Step 4: Make the payment towards the liability and file CMP-08.
Is late fee applicable on CMP-08?
What is the penalty for not filing CMP-08 within the due date? In case a taxpayer fails to furnish his/her statement on or before the due date, he or she will be liable to pay a late fee of Rs. 200 per day for every day of delay.
What is meant by CMP-08 in GST?
Form GST CMP-08 is used to declare the details or summary of self-assessed tax which is payable for a given quarter by taxpayers who are registered as composition taxable person or taxpayer who have opted for composition levy.
What is difference between Gstr 4 and CMP-08?
Note on Form GST CMP-08 and Form GSTR-4 Since FY 2019-2020, composition taxpayers have to pay the liability through Form GST CMP-08 on a quarterly basis while GSTR-4 Return is required to be filed on annual basis after the end of a financial year.
Can we revise CMP-08?
Reply- Form GST CMP-08 once filed, cannot be revised.
How do I pay late fee for GST CMP-08?
If the taxpayer does not file GST CMP-08 on or before the due date, he is liable to pay a Late Fee for each day of delay. Note: While the GST Rules mention a late fee of Rs. 200 per day in the case of CMP-08, there is no option to enter such a late fee under the option of paying tax in CMP-08.
Is CMP 08 date extended?
The due date for filing CMP-08 Form is on or before the 18th of the month succeeding the quarter of an F.Y. (Financial Year). *Note: The due date for filing CMP-08 has been extended to 31st July 2019 for April to June quarter.
Can GST CMP 08 be revised?
How do I pay late fee for GST CMP 08?
How do I rectify negative liability in CMP-08?
In this case, since the GSTR-4 for FY 2020-21 is already filed, there is no scope for revision there. Also, the Negative Liability Adjustment cannot be edited while submitting the CMP-08, so the taxpayer should file CMP-08 as it is with adjustment of negative liability.
Can GST CMP-08 be revised?
Is there any late fee for composition scheme?
GSTR-4 is filed annually by the taxpayers registered under the composition scheme. According to GST law, Rs 50 per day is charged as late fee for delay in filing GSTR-4. However, where the total amount of tax payable is nil, a maximum of Rs 500 can be imposed as late fee.