GST CMP-8

What is Form CMP-08?

A composition dealer will use the Form CMP-08, which is a special statement-cum-challan to declare the details or summary of their self-assessed tax payable for a given quarter. It also acts as a challan for making payment of tax.

A composition dealer is a dealer who has been registered under the composition scheme laid down for both supply of goods and services. In addition to Form CMP-08, a composition dealer will also need to file his/her annual return via the revised format of Form GSTR-4 by the 30th of April following the end of a financial year.

Who should file CMP-08?

A taxpayer who has opted for the composition scheme has to file CMP-08 in order to deposit payments every quarter. There are two kinds of taxpayers registered using CMP-02 (Opt into Composition scheme):

• The supplier of goods being manufacturers, retailers having an annual aggregate turnover of up to Rs.1.5 crore (Rs.75 lakhs for special category States except for Jammu & Kashmir and Uttarakhand) in the previous financial year, except:
  • Manufacturer of ice cream and other edible ice (whether or not containing cocoa), pan masala, or tobacco and manufactured tobacco substitutes.
  • A person making inter-state supplies.
  • A person supplying goods which are not taxable under GST Law.
  • A casual taxable person or a non-resident taxable person.
  • Businesses which supply goods through an e-commerce operator.
• The supplier of services who fulfil the conditions mentioned under the Notification Number 2/2019 Central Tax (Rate) dated 7 March 2019 having the aggregate annual turnover up to Rs.50 lakh in the previous financial year.

What is the due date to file the Form CMP-08?

Form CMP-08 must be filed on a quarterly basis, on or before the 18th of the month succeeding the quarter of any specific fiscal year. For example, the due date to file CMP-08 for the Jan-Mar 2024 quarter is 18th April 2024.

What is the penalty for not filing CMP-08 within the due date?

In case a taxpayer fails to furnish his/her statement on or before the due date, he or she will be liable to pay a late fee of Rs.200 per day for every day of delay. i.e. Rs.100 per day under CGST and Rs.100 per day under SGST. IGST Act prescribes an amount equal to the late fees for CGST and SGST Act i.e Rs.200 per day of delay. Late fee charges will be subject to a maximum of Rs.5,000 from the start of the due date to the actual filing date of the taxpayer.

Moreover, if CMP-08 of two consecutive quarters are not filed, then the e-way bill generation gets blocked. For unblocking, taxpayers need to apply to the jurisdictional tax official in Form GST EWB 05. They may also be required to file all pending forms for previous quarters.