30 Jul 2019Posted By: Mudit Handa


GST CMP-08 is Now Live for Composition Taxpayers

Recently, the GST council had brought a new GST return filing model for the taxpayers having GST registration under the Composition scheme.

Under that, a new GST return, GST CMP-08 has been introduced. The GST CMP-08 shall replace the existing return GSTR-4

The GST council has recently extended the due date for filing of FORM GST CMP-08 for the 1st quarter (April 2019 to June 2019) from 31st July 2019 to 31st August 2019.

The new return GST CMP-08 has now been made available on the GST portal. Composition Taxpayers shall now file GST CMP-08 instead of GSTR-4.

 

1. Why was GST CMP-08 due date been extended?

The Deadline for the GST return filing for Composition Taxpayers in FORM GST CMP-08 was extended because the said FORM GST CMP-08 was not yet available at the common portal (i.e. GST Portal). 

  • The due date for GST CMP-08 was extended from 18th July to 31st July 2019, and then to 31st August 2019.
  • However, the GST CMP-08 return is now available for filing.
  • The Taxpayers having GST registration under the Composition scheme as well as the GST Professionals can now file this return easily.

2. Who shall file GST CMP-08?

All taxpayers who have opted for the GST registration in composition scheme shall file GST CMP-08 every quarter. 2 kinds of taxpayers have to file this return:

  • The manufacturers of goods 
  • Retailers with aggregate turnover up to ₹1.5 crore but except these:
  1. Manufacturers of ice cream or sin goods, i.e. pan masala or tobacco products.
  2. Inter-state suppliers
  3. Casual taxpayers or NRI taxpayers 
  4. E-commerce operator.

3. What details are to be filled in GST CMP-08 nil return?

In Nil GST CMP-08 return, the following details are to be filled:

  1. Outward supply (sale)
  2. Liability due to GST reverse charge (incl. import of services)
  3. Any other GST tax liability

Very importantly, there’s no provision to enter the details of inward supply (purchases) in GST CMP-08. Purchases can’t be entered in this return.


4. What is the deadline to file GST CMP-08?

The GST CMP-08 has to be filed on 18th of the month succeeding the quarter of a particular financial year.

However, the due date for filing GST CMP-08 for the quarter of April 2019 to June 2019 is extended from 31st July 2019 to 31st August 2019.

In case you require any assistance regarding the GST registration or GST return filing, please feel free to contact us at 8881-069-069.

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