Special Procedure for Return filing by Composition Taxpayers

Special Procedure for Return filing by Composition Taxpayers

Notification No.21/2019 central tax dated 23rd April, 2019 notifies the registered persons paying tax under the provisions of section 10 of the CGST Act or by availing the benefit of notification No. 02/2019– Central Tax (Rate), dated the 7th March, 2019 (service providers under composition scheme), shall follow the special procedure for furnishing of return and payment of tax—

Quarterly Statement— They shall furnish a statement, every quarter or, as the case may be, part thereof, containing the details of payment of self-assessed tax in FORM GST CMP 08, till the 18th of the month succeeding such quarter.

Annual Return— They shall furnish a return for every financial year or, as the case may be, part thereof in FORM GSTR-4, till the 30th April following the end of such financial year.

Form GST CMP – 08- Statement for payment of self-assessed tax

  • New Format for GST CMP-08 has been notified.
  • “Nil” Statement shall be filed if there is no tax liability due during the quarter.
  • Interest shall be leviable if payment is made after the due date.
  • Negative value may be reported as such if such value comes after adjustment.
  • If the total tax payable becomes negative, then the same shall be carried forward to the next tax period for utilising the same in that tax period.