All the composition dealers are supposed to fill up the CMP-08 form to file GST for the composition scheme. As per the guidelines, the dealers are supposed to file for the GST composition scheme every quarter by the 18th of the month following the quarter. Form GSTR 4 has been replaced by CMP-08 for GST filing for composition scheme. Let us learn how to file GST composition scheme return.
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GST return filing composition scheme can be done online by visiting the GST website. Let me share the step-by-step guide on how to file GST return composition scheme.
Visit the GST portal and go to the CMP-08 tile.
Choose your financial year and choose the return filing time span for the specific quarter. Click on ‘Search’ and ‘Prepare online’ for the CMP -08 form (payment of self-assessed tax).
Enter all the relevant information in table 3 of the CMP- 08 form.
Click on the checkbox ‘File Nil GST CMP-08’ if the taxpayer:
Has no outward supplies for the return period selected and therefore it is non-taxable.
Has no output tax liability since the dealer has no inward supplies for which tax is payable on a reverse charge basis.
Has no tax liability.
Check the CMP 08 draft before making the final payment by hitting the click button.
Make the payment by using the cash balance left or by creating a challan. You can choose to pay via NetBanking or NEft if you have insufficient cash in the cash ledger. Confirm the details and submit the CMP-08 form via electronic verification code (EVC) or digital signature (DSC). After submitting the form you will receive a message confirming that you have filed CMP-08.
How to file annual return in GST for composition scheme?
To file GST for composition schemes annually, you can file the form GSTR 4 by visiting the GST portal.
This is the process of GST filing for composition scheme.
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Darshan
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2022-09-13T10:34:15+00:00 2022-09-13T10:34:17+00:00Comment
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