Kollipara sundaraiah asked 5 years ago
Gst cmp-08 for kirana stores dealer
A Kirana store dealer composite scheme registered in the GST act. the dealer selling of taxable and exempted both types of goods selling
My question.
1.composite form CMP-08 return in table 3 sr.no.1 .this column entered sales turnover of taxable+exempted goods or sales of taxable goods turnover entered only.
2.how much rate of interest and late fees paid for GST CMP-08 April to June 2019 return.
CA Venu Gopal Gella answered 5 years ago
Taxble Goods @1%
Exempted goods nned not be offered to tax
delayed interest will be charged at 18%
Mrinal Kanti Das answered 5 years ago
Sir, CMP 08 is applicable for the tax payer whose levy calculated according to section 10 of Cgst act and also for the person who opeted in the scheame of notification no 2/2019 CTR.. Now if you are a trader then you have to pay tax only on taxable supply for the person whose levy is calculated u/s 10. Refer to Notification 8/2017 central tax, read with Notification 1/2018 central tax (for the person whos levy is calculated according to the provision of section 10 of cgst act)……
Interest for delayed payment of tax is 18% as per section 50(1) of cgst act….
