About This Plan

Filing your CMP-08 is a special statement-cum-challan to declare the details or summary of his/her self-assessed tax payable for a given quarter is now super easy! Opt for this plan and get all filing and compliance needs taken care of in one place!

Services Covered

• GST Returns (CMP-08) for 1 quarter (inclusive of purchase & sales) for ONE GSTIN
• Filing for B2B and B2C invoices
• Reconciliation for all transactions
• Book-Keeping and Accounting are not part of this package
• Payment of Gst challan

Who Should Buy

• Dealers registered under Composition Scheme

How It's Done

• Purchase of Plan
• Expert Assigned
• Upload Documents
• Quarterly Delivery of Services

7 days estimate

Documents Required

FAQs

1.What is Form CMP-08?

A composition dealer will use the Form CMP-08, which is a special statement-cum-challan to declare the details or summary of his/her self-assessed tax payable for a given quarter. It also acts as a challan for making payment of tax. A composition dealer is a dealer who has been registered under the composition scheme laid down for both supplies of goods and services. In addition to Form CMP-08.

A composition dealer will also need to file his/her annual return via the revised format of Form GSTR-4 by 30 April following the end of a specific fiscal year.

2.Who should file this form?

A taxpayer who has opted for the composition scheme has to file CMP-08 in order to deposit payments every quarter. There are two kinds of taxpayers registered using CMP-02 (Opt into Composition scheme):

• The supplier of goods being manufacturers, retailers having an annual aggregate turnover of up to Rs 1.5 crore (Rs. 75 lakhs for special category States except for Jammu & Kashmir and Uttrakhand) in the previous financial year, except:
  • Manufacturer of ice cream and other edible ice (whether or not containing cocoa), pan masala, or tobacco and manufactured tobacco substitutes.
  • A person making inter-state supplies.
  • A person supplying goods that are not taxable under GST Law.
  • A casual taxable person or a non-resident taxable person.
  • Businesses that supply goods through an e-commerce operator.
• The supplier of services who fulfill the conditions mentioned under Notification Number 2/2019 Central Tax (Rate) dated 7 March 2019 having an aggregate annual turnover up to Rs 50 lakh in the previous financial year.

3.What is the due date to file Form CMP-08?

Form CMP-08 must be filed on a quarterly basis, on or before the 18th of the month succeeding the quarter of any specific fiscal year.

4.What is the penalty for not filing CMP-08 within the due date?

In case a taxpayer fails to furnish his/her return 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. i.e. Rs 100 per day under CGST and Rs 100 per day under SGST. IGST Act prescribes an amount equal to the late fees for CGST and SGST Act i.e Rs 200 per day of delay. Late fee charges will be subject to a maximum of Rs 5,000 from the start of the due date to the actual return filing date of the taxpayer.

5. What is GSTR-4 Return Filing

GSTR-4 is a return that must be filed by the taxpayers opting for Composition Scheme on an annual basis. Until the FY 2018-19, the return was filed every quarter which got replaced by CMP-08.

6. When is GSTR-4 due?

GSTR 4 has to be filed on an annual basis.

The due date for filing GSTR 4 is the 30th of April following the relevant financial year. For example, the GSTR-4 for FY 2020-21 is due by 30th April 2021.

c. Who should file GSTR-4?

A taxpayer opting for the Composition Scheme is required to file GSTR-4. It also covers the special composition scheme notified for the service providers vide the CGST (Rate) notification number 2/2019 dated 7th March 2020 with effect from FY 2019-20.

d. How to revise GSTR-4?

GSTR 4 cannot be revised after filing on the GSTN Portal.

e. Late Fees and Penalty

A late fee of Rs. 200 per day is levied if the GSTR-4 is not filed within the due date. The maximum late fee that can be charged cannot exceed Rs. 5,000.