CMP 08
CMP 08 form
CMP 08 form is a payment - cum - challan form which is a summary of a composition taxpayers of theirs self assessed tax payable for a given quarter.
It is filled by the composition taxpayers by 18th of every quarter finished (for example for April to June quarter you have to fill within 18th of july ),And it is also filled by those taxpayers who has/have opted into composition scheme via CMP 02
Those are
1.the supplier of goods being manufacturer as well as retailer but having an annual aggregate trunover of up to 1.5crs in the previous financial year.
But they are not in in the business of the manufacturing of ice cream or pan masala
Not having inter state supplies
An NRI or a causal taxpayers supplies
Supplies of goods through an e commerce operators.
2.the supplier rendering services having aggregate annual trunover up to 50lakhs to pay tax at a nominal rate but should full fill certain conditions
They should be only in supply of services nothing else
Supplies of goods and services who are not eligible for composition scheme earlier.
The rules and regulations were be same as before the earlier composition scheme
Apart from CMP 08 form the composition taxpayers have to fill annual return naming GSTR - 4 by 30th April following the end of the financial year.
Note..
CMP 08 is not yet available in GST portal and I think it will come by the end of 31st July as the CMP 02 date being extended (it's my thinking).
(II) if you have already calculate your liability under composition scheme then I suggest them to make their payment through challan through their cash ledger and later fill the details in CMP 08 from when it will available (as i think CMP 08 its, self says it is a self assessed payment form where we declare our liability and make payments.so I think it's came as per the rule and regulations of the GST formt)
Or the taxpayers would wait till the form available in the portal and then fill it.
The due date for CMP 08 for the quarter April to June 2019 is extended to 31st July
CMP 08 form is a payment - cum - challan form which is a summary of a composition taxpayers of theirs self assessed tax payable for a given quarter.
It is filled by the composition taxpayers by 18th of every quarter finished (for example for April to June quarter you have to fill within 18th of july ),And it is also filled by those taxpayers who has/have opted into composition scheme via CMP 02
Those are
1.the supplier of goods being manufacturer as well as retailer but having an annual aggregate trunover of up to 1.5crs in the previous financial year.
But they are not in in the business of the manufacturing of ice cream or pan masala
Not having inter state supplies
An NRI or a causal taxpayers supplies
Supplies of goods through an e commerce operators.
2.the supplier rendering services having aggregate annual trunover up to 50lakhs to pay tax at a nominal rate but should full fill certain conditions
They should be only in supply of services nothing else
Supplies of goods and services who are not eligible for composition scheme earlier.
The rules and regulations were be same as before the earlier composition scheme
Apart from CMP 08 form the composition taxpayers have to fill annual return naming GSTR - 4 by 30th April following the end of the financial year.
Note..
CMP 08 is not yet available in GST portal and I think it will come by the end of 31st July as the CMP 02 date being extended (it's my thinking).
(II) if you have already calculate your liability under composition scheme then I suggest them to make their payment through challan through their cash ledger and later fill the details in CMP 08 from when it will available (as i think CMP 08 its, self says it is a self assessed payment form where we declare our liability and make payments.so I think it's came as per the rule and regulations of the GST formt)
Or the taxpayers would wait till the form available in the portal and then fill it.
The due date for CMP 08 for the quarter April to June 2019 is extended to 31st July
Thanks a lot for the information.
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