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Filing CMP-08 Return: Due Date | Eligibility | Penalties

CMP-08 form filing need to be done by all composition taxpayers. Form CMP-08 is a form for quarterly return filing by every taxpayer who comes under GST- Composition Scheme, applicable from FY 2019-2020 onwards. He/she can use a quarterly statement of CMP-08 to affirm or declare the self-assessed details of the tax payable by a composite dealer in the given quarter. This form can also be used as a challan for making payment of tax.

Apart from this, such specific persons are also needed to file their annual returns with the help of FORM GSTR-4 on or before the due date of specific fiscal year.

All the registered taxpayers paying tax under the provisions of CGST Act 2017- section 10 or availing benefits of Notification No. 2/2019-Central Tax (Rate) dated 07th March 2019 have been classified under ‘special category of persons’ by the Central Board of Direct Taxation. A special process has been laid out by the CBDT through Notification no. 21/2019 – Central Tax dated 23rd April 2019 for those who come under composition scheme. Persons who comes under composition scheme are needed to furnish their return statement with the help of Form GST CMP-08 on a quarterly basis.

Who Should File GST CMP 08 Form?

A taxpayer who go for composition scheme is required to file GST CMP-08 for depositing payment quarterly. A taxpayer who comes under the category of composition scheme need to file CMP-08 to deposit payments every quarter.

There are mainly two kinds of taxpayers registered using CMP-02 which comes into Composition scheme:

The supplier of goods being manufacturers, retailers who have an annual aggregate turnover of up to INR 1.5 crore (INR 75 lacs for special category States except for Uttarakhand and Jammu & Kashmir) in the previous financial year, except:

Manufacturer of ice cream and other edible like pan masala, tobacco & manufactured tobacco substitutes.

  1. A person making inter-state supplies.
  2. A casual taxable person
  3. A non-resident taxable person.
  4. A person supplying goods which are not taxable under GST Law.
  5. A Businesses who supply their goods through an e-commerce operator.

The supplier of services who fulfil the conditions mentioned under the Notification released on 7 March 2019 and the notification Number 2/2019 Central Tax (Rate) having the aggregate annual turnover up to Rs 50 lacs in the previous financial year (FY).

Due date for file the return via CMP-08?

Form CMP-08 need to be filed on a quarterly basis, on or before the 18th of the month succeeding the quarter of any specific fiscal year. The due date for filing CMP-08 has been extended for the period July 2019 to September 2019 from 18th September 2019 to 22nd October 2019.

What are the penalties and consequences for not filing CMP-08 within the due date?

In case, if any taxpayer fails to file his/her return on the due date or before the due date, he or she need to to pay a late fee of worth Rs 200 per day of delay. Which is Rs 100 per day for CGST and Rs 100 per day for SGST. IGST Act determine an amount equal to the late fees for CGST & SGST Act that is Rs 200 per day of delay. Late fee charges will be subject to a maximum of Rs 5,000 and there is a maximum cap of Rs. 5000 in the late fees from the start of the due date to the actual date of filing your return.