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A Composition taxpayer may now file NIL statement in Form GST CMP-08 for a quarter, through an SMS, apart from filing it through online mode, on GST Portal. 1.To file NIL Form GST CMP-08 through SMS, the taxpayer must fulfil following conditions: Taxpayer must be registered as composition taxable person (by filing Form GST REG-01) or the taxpayer might have opted for composition levy (by filing Form GST CMP-02). Taxpayer must have filed all the applicable statement(s) in Form GST CMP-08 for the previous quarter(s). Authorized signatory and his/ her phone number must be registered on the GST Portal. There must not be any data in save stage, in online version of Form GST CMP-08, on the GST Portal. 2.NIL Form CMP-08 for a tax period must be filed by the taxpayer, if there is no: Outward Supplies; liability due to reverse charge (including import of services); and other tax liability for the quarter, for which the statement is being filed. 3.Steps to File Nil Form GST CMP-08 through SMS ar...

The Central Board of Indirect Taxes & Customs (CBIC) has recently enabled new functionalities for Taxpayers liable to file GSTR-8 as well as for Composition Taxpayers effecting supplies through E-Commerce Operators in the wake of Covid-19.These Changes aims at easing the process of furnishing of Return under Form GSTR-8 by the E-Commerce Operators.Detailed Explanation of the Changes is as follows: Provision to make amendment, multiple times, in Table 4 of Form GSTR-8 Earlier, if no action was taken on TCS details, auto-populated in TDS/TCS credit form, by the supplier or if the same were rejected by them in the said form, the TCS (e-commerce operators) could amend the details only once. Based on requests received from stakeholders, the restriction of amending the transaction details only once, in the table 4 (i.e. amendment table) of Form GSTR-8, has now been removed. Thus, details of table 4 (i.e. amendment table) of Form GSTR-8, can now be amended multiple times, by e-commerce op...

The Goods & Services Tax Network(GSTN) Portal has now enabled facility of filing GSTR-4 Annual Return by Composition Taxpayers. What is GSTR-4 (Annual Return)? GSTR-4 is an Annual Return which is required to be filed by Taxpayers who have opted for Composition Scheme. Such Taxpayers are required to file Annual Return under form GSTR-4 from FY:2019-20. How is it different from GSTR-4 Quarterly Return? Form GSTR-4 Quarterly Return was applicable up to the Tax Period ending on 31st March 2019, for composition taxpayers. Earlier, For Tax Periods up to 31st March 2019, Composition Taxpayers were required to file Form GSTR-4 Quarterly Return. From 1st April 2019, Composition Taxpayers are now required to file Form CMP-08 on a quarterly basis, Due Date of Filing GSTR-4 (Annual Return) The Due Date for Filing of GSTR-4 Annual Return is 30th April 2020 as prescribed by CBIC vide Notification No.21/2019-CT dated 23rd April 20. However, CBIC had not enabled the facility to file GSTR-4 on GST...

The Central Board of Indirect Taxes & Customs (CBIC) as part of the Government of India's (GOI) Covid-19 relief measures brought in a number of notifications to ease out the Compliance burden on the Taxpayers in the Current times of Pandemic. With Business Activities disrupted due to Several Lockdowns imposed as part of tackling the Coronavirus Crises, These measures were announced to offer some respite to Taxpayers as they adjust to the new normal of Working from Home and other social distancing measures. Several Notifications were issued in this regard and few more expected in the coming times. These notifications primarily aim at extending the timelines of compliances so that businesses can accomplish their compliances without any penal provisions enforced upon them. CBIC has extended timelines for Compliances such as filing of Details of Outward Supplies reported under Section 37 in form GSTR-1 , Return of Inward and Outward Supplies, Input Tax Credit availed, tax payable a...

The Central Board of Indirect Taxes & Customs (CBIC) has extended the due date for filing of GSTR-4 required to be filed by registered persons opting for composition scheme under GST vide its Notification no.59/2020-Central Tax dated 13th July 2020  for FY:2019-20. This Notification seeks to amend the Notification No.21/2019-CT dated 23rd April 2020 by substituting the due date from 15th July 2020 to 31st August 2020. A Taxpayer opting for Composition Scheme under GST is required to file GSTR-4 for a financial year on or before 30th April following the end of such financial year. Such Taxpayers are required to furnish only 1 return i.e. GSTR-4.  Such Taxpayers are also required to pay self-assessed tax under Form CMP-08 for every quarter or part thereof as the case may be till 18th of the month succeeding such quarter which. This form has in turn replaced GSTR-4 from FY:2019-20 (which was required to be file every quarter earlier) to make the tax compliance for Compositio...

The Central Board of Indirect Taxes & Customs (CBIC) vide its Notification no.50/2020-CT dated 24th June 2020 has amended Central Goods and Services Tax Rules,2017 (CGST Rules) by inserting a new entry for prescribing a new tax rate for category of suppliers who have opted for Composition Scheme under GST. CBIC has amended Rule 7 of CGST Rules, 2017 by inserting a levy of a tax rate of 6% (CGST-3% & SGST-3%)  for levy of composition scheme under Section 10(2A) of CGST Act,2017. What does Rule 7 of CGST Rules,2017 prescribe : The category of registered persons, eligible for composition levy under section 10 and the provisions of this chapter, specified in column(2) of the Table below shall pay tax under section 10 at the rate specified in column (3) of the table mentioned below: SI.No. Category of Registered Persons Rate of Tax (1) (2) (3) 1. Manufacturers, other than manufacturers of such go...