Form GST CMP-08
Form CMP-08 is a statement cum challan document available for composition scheme taxpayers. The taxpayers who opted for the composition scheme under GST have to file CMP-08 quarterly. Earlier 2019-2020, composition scheme taxpayers had to file GSTR 4 quarterly but later it was replaced with form CMP-08. This move of the government has made compliance smoother and easier especially for small businesses.
Who has to File CMP-08 Quarterly?
- Supplier of goods (manufacturers and retailers)
- Manufacturer of ice cream, pan masala, tobacco, and tobacco substitutes
- Person making inter-state supplies
- Supplier goods not taxable under GST
- A casual taxable person or a non-resident taxable person
- E-commerce operators
Along with the above-stated businesses, entities having an annual turnover of up to Rs 1.5 Cr (RS 75 lakh in special category states, Jammu & Kashmir and Uttarakhand) can file CMP-08.
CMP-08 Details
- GSTIN
- Legal Name
- Trade Name
- Summary of self-assessed liability
- Outward supplies including exempt supplies
- Inward supplies attracting reverse charges including import of services
- Tax payable
- Interest payable if applicable
- Tax and interest paid
- Name of authorized signatory
Tax liabilities are inclusive of adjustments concerning advances, debit notes, or modifications. In case of nil returns, individuals can file CMP-08 via SMS.
GST Form CMP-08 Purpose
To report the self-assessed tax payable, CMP-08 serves as a statement cum challan. It acts as a challan for the payment of tax to the authorities for respective quarters in a financial year.
Through CMP-08, the government aims to lower the compliance burden and make taxation easy for small businesses.
Smaller business units can file online which also does not require too much information from the taxpayers.
After CMP-08’s introduction, filing quarterly GSTR 4 obligations is abolished. Filing annual GSTR 4 and quarterly CMP-08 is the new obligation of the taxpayers.
Due Date to File Form GST CMP-08
Form CMP-08 is filed quarterly by the taxpayers. It is to be filed on or before the 18th of the month coming after the end of the quarter. For a financial year, taxpayers can file it on the following dates
| Quarter | Due Date |
| 1st quarter (April to June) | 18th of July |
| 2nd quarter (July to September) | 18th October |
| 3rd quarter (October to December) | 18th January |
| 4th Quarter (January to March) | 18th March |
Penalty & Late Filing Fee on CMP-08
The late filing fee of Rs 200 for each delayed day applies to the late filers. A maximum of Rs 5000 is imposed for late filing which starts from the next day of the due date till the actual date of payment.
If a taxpayer has missed due dates to file CMP-08 back to back for the last two quarters, the e-way bill generation gets blocked. To get the e-way bill generation unblocked, reach out to the jurisdictional tax official and file form GST EWB 05, either reach out to TaxDunia and let us connect officials on your behalf. We have a team of seasoned professionals who offer personalized solutions to the unique needs of each of our clients.
