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What is CMP 08 ?

CMP 08 for composition dealers:

This new form is introduced for composition dealers. Both composition dealer and taxpayer under 02/2019 CT are required to file it. They are filing GSTR 4 till now. But they need to file CMP 08 quarterly. GSTR 4A is still required to be filed but only once in a year. This form is a challan cum return. Its due date is extended to 31st July 2019. But form is still not live.

  • Outward supplies (including exempt supplies)
  • Inward supplies attracting reverse charge including import of services.
  • Interest payable, if any
  • Tax and interest paid

Details of purchase other than RCM purchase is not required. In GSTR 4A purchase not attracting RCM is also required.

Taxpayers adopting the services composition levy are also required to fill this form.

What is the format of CMP 08?

This challan has details of outward supply of a composition dealer. Summary of self-assessed liabilities is required here. This summary is net of advances, credit and debit notes and any other adjustment due to amendments etc. 

 

image 1 CMP 08

image 3

Instructions for filing CMP08:

Following instructions are important for CMP08.

  • These two types of taxpayers can file a CMP 08
    • Normal composition dealer registered in composition levy of section.
    • Taxpayers who have opted for composition under notification no. 2/2019 
  • Adjustment on account of advances, credit/debit notes or rectifications shall be reported against the liability.
  • If the value after the adjustment is a negative value it can also be shown.
  • If the tax payable is negative. It will be carried forward to next month for adjustment.
  • In case there is no tax liability in FCM or in RCM, nil return can also be filed.
  • Interest is also leviable for payments after the due date.

 

This form is not live at portal yet. Thus we can’t show you a real demo or image. Taxpayers are waiting for this for as the date of filing of return is near. I Hope GSTIN will look into this matter. 

Watch video on Where is CMP 08?

 

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Profile photo of CA Shafaly Girdharwal CA Shafaly Girdharwal

CA

New Delhi, India

CA Shaifaly Girdharwal is a GST consultant, Author, Trainer and a famous You tuber. She has taken many seminars on various topics of GST. She is Partner at Ashu Dalmia & Associates and heading the Indirect Tax department. She has authored a book on GST published by Taxmann.

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