{"id":21929,"date":"2024-10-09T13:29:20","date_gmt":"2024-10-09T07:59:20","guid":{"rendered":"https:\/\/piceapp.com\/blogs\/?p=21929"},"modified":"2024-12-26T12:45:59","modified_gmt":"2024-12-26T07:15:59","slug":"how-to-file-cmp-08-in-gst","status":"publish","type":"post","link":"https:\/\/piceapp.com\/blogs\/how-to-file-cmp-08-in-gst\/","title":{"rendered":"Form CMP-08: Filing Procedure, Due Date, Penalty &amp; Other Details"},"content":{"rendered":"\n<div class=\"wp-block-group has-background\" style=\"background-color:#f2f5f9\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<h3 class=\"wp-block-heading\">Key Takeaways<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Form CMP-08<\/strong> is a quarterly return for composition taxpayers to declare and pay self-assessed taxes.<\/li>\n\n\n\n<li><strong>Due date<\/strong>: 18th of the month following each quarter (e.g., by 18th July for April-June).<\/li>\n\n\n\n<li><strong>Late filing<\/strong> incurs \u20b9200\/day penalty, max \u20b95,000, plus 18% interest.<\/li>\n\n\n\n<li><strong>Filing steps<\/strong>: Enter tax details, review, pay, and submit via the GST portal.<\/li>\n\n\n\n<li><strong>E-way bill<\/strong> blocked if CMP-08 is not filed for two consecutive quarters.<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p>GST Form CMP-08 is a requirement for taxpayers who have registered for the Composition Scheme under the framework of Goods and Services Tax. It declares the summary of self-assessed <a href=\"https:\/\/www.investopedia.com\/terms\/t\/taxliability.asp\" target=\"_blank\" rel=\"noopener\">tax liabilities<\/a> and simplifies tax filing for small businesses. Composite taxpayers need to file this form quarterly to maintain proper compliance.<\/p>\n\n\n\n<p>In this blog, we will discuss what is Form CMP-08, <strong>how to file CMP 08 in GST <\/strong>and who should file this form while highlighting other aspects that you need to know.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What Is Form CMP-08?<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"900\" height=\"506\" src=\"https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/10\/What-Is-Form-CMP-08.png\" alt=\"What Is Form CMP-08?\" class=\"wp-image-22036\" style=\"aspect-ratio:16\/9;object-fit:cover\" title=\"\" srcset=\"https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/10\/What-Is-Form-CMP-08.png 900w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/10\/What-Is-Form-CMP-08-300x169.png 300w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/10\/What-Is-Form-CMP-08-768x432.png 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><figcaption><\/figcaption><\/figure>\n\n\n\n<p>Form CMP-08 is a statement or return form which composition taxpayers need to file to declare their self-assessed liability or self-assessed tax for a specific quarter (on or before the 18th of a month which is succeeding the quarter of a <a href=\"https:\/\/en.wikipedia.org\/wiki\/Fiscal_year\" target=\"_blank\" rel=\"noopener\">fiscal year<\/a>). Form CMP-08 can also be used as a challan while paying tax.<\/p>\n\n\n\n<p>It is important to remember that composition dealer taxpayers must also file Form GSTR-4, i.e., the annual returns on or before 30th April which follows the end of a given fiscal year.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Who Should File CMP-08?<\/strong><\/h2>\n\n\n\n<p>Any taxpayer who has opted for the Composition Scheme needs to file CPM-08 for depositing payments each quarter. Here are the two kinds of taxpayers:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>The supplier of services, who in the previous financial year have \u20b950 lakh of aggregate annual turnover. They also need to meet the conditions stated under Notification Number 2\/2019 Central Tax (Rate) which is dated 7th March 2019.<\/li>\n\n\n\n<li>The supplier (retailer or manufacturer) with an annual aggregate turnover of up to \u20b91.5 crore in the previous fiscal year. For special category states, the aggregate annual turnover is \u20b975 lakh. Some exceptions are:<\/li>\n<\/ol>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A person who makes inter-state supplies<\/li>\n\n\n\n<li>Non-resident taxable person or casual taxpayer<\/li>\n\n\n\n<li>A person who manufactures ice cream pan masala, tobacco, edible ice (irrespective of cocoa content) and other tobacco products<\/li>\n\n\n\n<li>A person who supplies goods which do not attract any GST.<\/li>\n\n\n\n<li>Businesses making supplies through e-commerce operators<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What Is the Due Date to File the Form CMP-08?<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"900\" height=\"506\" src=\"https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/10\/What-Is-the-Due-Date-to-File-the-Form-CMP-08.png\" alt=\"What Is the Due Date to File the Form CMP-08?\" class=\"wp-image-22038\" style=\"aspect-ratio:16\/9;object-fit:cover\" title=\"\" srcset=\"https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/10\/What-Is-the-Due-Date-to-File-the-Form-CMP-08.png 900w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/10\/What-Is-the-Due-Date-to-File-the-Form-CMP-08-300x169.png 300w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/10\/What-Is-the-Due-Date-to-File-the-Form-CMP-08-768x432.png 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><figcaption><\/figcaption><\/figure>\n\n\n\n<p>You need to file Form CMP-08 on a quarterly basis, on or before the 18th of a month which is succeeding the quarter of a given financial year. For instance, it is mandatory to file CMP-08 by 18th April 2024 for the quarter of January-March, 2024.<\/p>\n\n\n\n<p>Take a look at the table below to learn about the due dates of each quarter.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Quarter<\/strong><\/td><td><strong>Due Dates<\/strong><\/td><\/tr><tr><td>1st Quarter \u2013 April to June 2024<\/td><td>18th July 2024<\/td><\/tr><tr><td>2nd Quarter \u2013 July to September 2024<\/td><td>18th October 2024<\/td><\/tr><tr><td>3rd Quarter \u2013 October to December 2024<\/td><td>18th January 2025<\/td><\/tr><tr><td>4th Quarter \u2013 January to March 2025<\/td><td>18th April 2025<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What Is the Penalty for Not Filing CMP-08 Within the Due Date?<\/strong><\/h2>\n\n\n\n<p>A taxpayer needs to pay \u20b9200 (\u20b9100 CGST + \u20b9100 SGST) for each day of delay as a penalty if he\/she fails to file CMP-08 within the due date. This late fee\/ penalty will amount to a maximum of \u20b95,000 from the beginning of the due date to the actual filing date. An interest rate of 18% will apply to the late fee charges for late filing of Form GST CMP-08.<\/p>\n\n\n\n<p>If CMP-08 for two consecutive quarters is not filed, e-way bill generation will be blocked. To unblock it, taxpayers must apply to the jurisdictional tax officer using Form GST EWB 05 and may need to submit all pending forms for previous quarters.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How Does a Taxpayer Fill CMP-08?<\/strong><\/h2>\n\n\n\n<p>To file CMP-08 form, a taxpayer needs to provide the following details:&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"900\" height=\"506\" src=\"https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/10\/How-Does-a-Taxpayer-Fill-CMP-08.png\" alt=\"How Does a Taxpayer Fill CMP-08?\" class=\"wp-image-22040\" style=\"aspect-ratio:16\/9;object-fit:cover\" title=\"\" srcset=\"https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/10\/How-Does-a-Taxpayer-Fill-CMP-08.png 900w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/10\/How-Does-a-Taxpayer-Fill-CMP-08-300x169.png 300w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/10\/How-Does-a-Taxpayer-Fill-CMP-08-768x432.png 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><figcaption><\/figcaption><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>GSTIN information:<\/strong> First, the taxpayer needs to provide details of the Goods and Services Tax Identification Number.<\/li>\n\n\n\n<li><strong>Trade Name and Legal Name:<\/strong> These fields are auto-filled based on GSTIN details. This includes basic details like the registered legal name of the business and the trade name.<\/li>\n\n\n\n<li><strong>Inward Supplies: <\/strong>The taxpayer needs to enter details of inward supplies under the <a href=\"https:\/\/www.bajajfinserv.in\/reverse-charge-mechanism-in-gst\" target=\"_blank\" rel=\"noopener\">reverse charge mechanism <\/a>on which he is required to pay tax.<\/li>\n\n\n\n<li><strong>Outward Supplies:<\/strong> The taxpayer needs to provide outward supplies details on which he needs to pay tax.<\/li>\n\n\n\n<li><strong>Imports:<\/strong> Details of imports of goods or services are necessary.<\/li>\n\n\n\n<li><strong>Total Tax Payable:<\/strong> The taxpayer needs to enter details of the total amount of tax that is payable.<\/li>\n\n\n\n<li><strong>Interest:<\/strong> Details of interest on late payments which are due or other defaults need to be mentioned.<\/li>\n\n\n\n<li><strong>Date of Filing and ARN:<\/strong> After payment of tax, the taxpayer needs to mention the GST return filing date and Application Reference Number in the CMP-08 Form.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How to File GST CMP 08?<\/strong><\/h2>\n\n\n\n<p>Follow the steps below for filing Form GST CMP 08:<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"GST composition Return filing | GST CMP 08 Return filing | #GSTComposition scheme return filing 2023\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/HouqLHgGj8M?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 1: Access Form CMP 08<\/strong><\/h3>\n\n\n\n<p>You first need to log in to the official GST portal. Go to &#8216;Return Dashboard&#8217;, and tap on &#8216;CMP-08&#8217;. Then, proceed to select the filing period and financial year. After clicking on &#8216;Search&#8217;, choose &#8216;Prepare Online.&#8217;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 2: Enter Tax Liability Details<\/strong><\/h3>\n\n\n\n<p>Enter the summary of supplies values and the tax which is payable for the relevant quarter. Mention the due interest amount, if any. Choose \u2018File Nil GST CMP-08\u2019, if you meet these conditions:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>No outward supplies during the return period on which any amount of tax is payable.<\/li>\n\n\n\n<li>There are no output GST liabilities from inward supply under the reverse charge mechanism. This also includes<a href=\"https:\/\/www.investopedia.com\/terms\/i\/import.asp\" target=\"_blank\" rel=\"noopener\"> imported services.<\/a><\/li>\n\n\n\n<li>You do not have tax liabilities.<\/li>\n<\/ul>\n\n\n\n<p>Upon completion, tap on \u2018SAVE.\u2019<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 3: Review the Form<\/strong><\/h3>\n\n\n\n<p>Tap on &#8216;PREVIEW DRAFT GST CMP-08&#8217; to verify the information once.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 4: Make Payment and File<\/strong><\/h3>\n\n\n\n<p>Pay with the electronic cash balance. You can also create a challan for payment through NEFT or net banking if there is insufficient cash in your electronic cash ledger. Once you have made the payment, submit the Form using a <a href=\"https:\/\/www.mca.gov.in\/MinistryV2\/acquiredsc.html\" target=\"_blank\" rel=\"noopener\">Digital Signature Certificate (DSC)<\/a> or Electronic Verification Code (EVC).<\/p>\n\n\n\n<p>Upon submission, you will receive a confirmation message along with the generation of an Acknowledgement Receipt Number (ARN). You will also receive notifications regarding the successful filing on your contact number.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Conclusion<\/strong><\/h3>\n\n\n\n<p>The CMP-8 Form is an essential quarterly return form for composition dealers, as it ensures that they declare their tax liabilities and make timely payments. This also reduces the tax filing burden of <a href=\"https:\/\/dictionary.cambridge.org\/dictionary\/english\/taxable\" target=\"_blank\" rel=\"noopener\">taxable individuals <\/a>and small businesses. Therefore, understanding <strong>how to file CMP-08 in GST<\/strong>&nbsp;can help you maintain business compliance&nbsp;and avoid penalties like late payment charges and interest.<\/p>\n\n\n\n<p class=\"has-ast-global-color-4-background-color has-background\">\ud83d\udca1If you want to streamline your payment and make GST payments, consider using\u00a0<a href=\"https:\/\/piceapp.com\/\">the PICE App<\/a>. Explore the PICE App today and take your business to new heights.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">FAQs<\/h3>\n\n\n<div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-question-1728454552959\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><strong>What is Form CMP-08 in GST?<\/strong><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Form CMP-08 is a quarterly return that composition taxpayers use to declare their self-assessed tax liability. It must be filed by the 18th of the month following each quarter. The form also serves as a challan for making tax payments, helping businesses comply with GST rules.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1728454556251\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><strong>Who needs to file Form CMP-08?<\/strong><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Taxpayers registered under the GST Composition Scheme, such as service providers with turnover up to \u20b950 lakh or manufacturers\/retailers with turnover up to \u20b91.5 crore, must file CMP-08. Special category states have a turnover limit of \u20b975 lakh. Some exceptions apply, such as businesses making inter-state supplies.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1728454563139\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><strong>What is the penalty for late filing of CMP-08?<\/strong><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>If CMP-08 is filed late, a penalty of \u20b9200 per day (\u20b9100 CGST + \u20b9100 SGST) is charged, up to a maximum of \u20b95,000. Additionally, an interest rate of 18% per year applies to any outstanding tax amount, increasing the overall cost of non-compliance.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1728454571059\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><strong>How do I file Form CMP-08 online?<\/strong><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>To file CMP-08, log into the GST portal, access the &#8216;Return Dashboard,&#8217; and select the relevant quarter. Enter the tax details, review the form, and submit it after making payment via the electronic cash ledger or by creating a challan for payment through NEFT or net banking.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1728454578819\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><strong>What happens if I don\u2019t file CMP-08 for two consecutive quarters?<\/strong><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>If CMP-08 isn\u2019t filed for two consecutive quarters, e-way bill generation will be blocked. To unblock it, the taxpayer must file the pending returns and may need to approach the jurisdictional tax officer using Form GST EWB 05 to resolve the issue.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Key Takeaways GST Form CMP-08 is a requirement for taxpayers who have registered for the Composition Scheme under the framework of Goods and Services Tax. It declares the summary of self-assessed tax liabilities and simplifies tax filing for small businesses. Composite taxpayers need to file this form quarterly to maintain proper compliance. In this blog, [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":22035,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-21929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gst"],"_links":{"self":[{"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/posts\/21929","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/comments?post=21929"}],"version-history":[{"count":1,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/posts\/21929\/revisions"}],"predecessor-version":[{"id":57088,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/posts\/21929\/revisions\/57088"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/media\/22035"}],"wp:attachment":[{"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/media?parent=21929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/categories?post=21929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/tags?post=21929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}