CMP-08 filing must be done by all composition taxpayers (including service providers opting for composition scheme under Central Tax (Rate) Notification number 2/2019 dated 7 March 2019).
The GSTN has, after much delay, opened the facility to declare and submit GST liability in CMP-08 (payment of self-assessed tax) for all the composition dealers on 29 July 2019. The composition dealers have to pay tax in CMP-08 challan-cum-statement every quarter by the 18th of the month following the quarter. The form replaces GSTR-4 with effect from FY 2019-2020. In turn, composition dealers must file GSTR-4 annually from April 2020 for the annual year 2019-2020.
Update as on 1st May 2021
Form CMP-08 that was due by 18th April 2021 for January-March 2021 has been given a relaxation in the interest charges. No interest for filing on or before 8th May, interest reduced to 9% between 9th May and 23rd May, but charged at 18% thereafter.
Update as on 6th August 2020
An Excel based offline tool is now available to file GSTR-4 (Annual Return) on the GST portal.
How to file CMP-08 on GST portal
The following are the steps to file GST CMP-08 (payment of self-assessed tax) on GST portal:
Step 1: Log in to GST portal and navigate to the CMP-08 tile on the return dashboard
Select the relevant financial year and choose the return filing period for the relevant quarter. Proceed by clicking on ‘SEARCH’.
Click on ‘PREPARE ONLINE’ for the CMP-08 form (payment of self-assessed tax).
Step 2: Fill up the tax liability details in table 3 of the CMP-08 form
Fill in the summary figures of the value of supplies and tax payable for the period of three months. Enter the interest amount in case of delay in submission of CMP-08 beyond the due date applicable.
Tick mark the checkbox on ‘File Nil GST CMP-08’ in case the taxpayer:
1) Has no outward supplies during the selected return period and accordingly no tax payable.
2) Has no output tax liability due to not having inward supplies on which tax is payable on reverse charge basis (including import of services).
3) Does not have any other tax liability.
Click on ‘SAVE’ to save the details entered.
Step 3: Preview draft CMP-08 before making the tax payment
Click on ‘PREVIEW DRAFT GST CMP-08’ to review the accuracy of details entered.
Step 4: Make the payment towards the liability and file CMP-08
Make payment either using the cash balance left in the electronic cash ledger OR click on ‘Create Challan’ to choose either the NetBanking or NEFT in case there is insufficient cash in the cash ledger. Confirm the details submitted by checking the box against the declaration statement.
Submit the CMP-08 using electronic verification code (EVC) or digital signature (DSC). You will get a message confirming the filing of CMP-08 (payment of self-assessed tax).
GSTN generates an ARN on the successful filing of CMP-08. Further, an SMS and an email are sent to the taxpayer on his registered mobile and email ID.
To read more, check out our article: All about CMP-08: Due dates, format, and applicability.