CMP-08 is the quarterly statement that composition scheme taxpayers must file to report and pay their self-assessed GST. Unlike regular taxpayers who file monthly returns, composition taxpayers file a quarterly statement (CMP-08) and an annual return (GSTR-4).
This comprehensive guide covers everything you need to know about CMP-08, including due date, filing process, and compliance requirements.
What Is CMP-08?
CMP-08 is a quarterly statement for payment of self-assessed tax that must be filed by taxpayers who have opted for the composition scheme under GST. It contains details of outward supplies, inward supplies attracting reverse charge, and import of services.
Who Must File CMP-08?
CMP-08 must be filed by all taxpayers who have opted to pay tax under the composition scheme. This includes:
- Manufacturers
- Traders
- Service providers under the special composition scheme
Critical Rule: Filing of CMP-08 is mandatory even if there is no business activity in any particular tax period.
Due Date for CMP-08
CMP-08 must be filed by the 18th day of the month succeeding the quarter.
| Quarter | Due Date |
|---|---|
| April - June | 18th July |
| July - September | 18th October |
| October - December | 18th January |
| January - March | 18th April |
CMP-08 Format and Structure
CMP-08 contains the following details:
- Outward supplies made during the quarter
- Inward supplies attracting reverse charge
- Import of services
- Self-assessed tax payable
- Tax paid during the quarter
Filing CMP-08: Step-by-Step Process
Step 1: Calculate Self-Assessed Tax
- Calculate turnover for the quarter
- Apply the applicable composition rate
- Calculate tax payable
Step 2: Log in to GST Portal
- Visit www.gst.gov.in
- Navigate to Services > Returns > Returns Dashboard
Step 3: Select CMP-08
- Select the financial year and quarter
- Click on "Prepare Online"
Step 4: Fill Details
- Enter details of outward supplies
- Enter details of inward supplies (RCM)
- Enter details of import of services
- Calculate tax payable
Step 5: Pay Tax
- Pay tax through the electronic cash ledger
Step 6: Submit
- File using DSC or EVC
Filing Nil CMP-08
Online Filing
Nil CMP-08 can be filed online through the GST portal.
SMS Filing
Composition taxpayers can now file nil statement in Form GST CMP-08 through SMS and without logging in to the GST portal. This provides significant convenience for small taxpayers.
CMP-08 vs GSTR-4
| Aspect | CMP-08 | GSTR-4 |
|---|---|---|
| Frequency | Quarterly | Annual |
| Purpose | Payment of self-assessed tax | Annual return |
| Due Date | 18th of month following quarter | 30th April (or extended) |
| Content | Quarterly turnover and tax paid | Consolidated annual statement |
Common CMP-08 Errors to Avoid
1. Not Filing CMP-08
CMP-08 must be filed every quarter, even if there is no business activity.
2. Incorrect Turnover Calculation
Ensure turnover is correctly calculated for the quarter.
3. Incorrect Tax Rate Application
Apply the correct composition rate based on the business category.
4. Not Paying Tax on Time
Tax must be paid before filing CMP-08.
5. Ignoring RCM Supplies
Inward supplies attracting reverse charge must be reported in CMP-08.
Need assistance with CMP-08 filing for your composition scheme business? Our expert team ensures accurate and timely filing.
Contact Anuj Desai & Associates: š§ Email: office@anujdesaiassociates.com š Phone: 9619456656 š Website: https://anujdesaiassociates.com š LinkedIn: linkedin.com/in/ca-anuj-desai-122547230