Third Amendment, 2019 to the CGST Rules (Composition Levy) || New Form Inserted – FORM GST CMP-08

Third Amendment, 2019 to the CGST Rules

In exercise of the powers conferred by section 148 of the CGST Act, 2017, the Central Government, on the recommendations of the GST Council, hereby notifies the registered persons paying tax under the provisions of section 10 of the CGST Act or by availing the benefit of notification of the Government of India, Ministry of Finance, Department (MFD) of Revenue No. 02/2019– Central Tax (Rate), dated the 07.03.2019, published in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (i) vide number G.S.R. 189 , dated the 07.03.2019, (hereinafter referred to as ―the said notification) as the class of registered persons who shall follow the special procedure as mentioned below for furnishing of return and payment of tax.

Applicability

The following persons are eligible to follow this particular procedure for furnishing of return FORM GST CMP-08.

1. The registered persons paying tax under the provisions of section 10 of the CGST Act 2017.( Composition Levy )
2. The person availing the benefit of 6% composition scheme (Notification of Ministry of Finance, Department of Revenue vide No. 02/2019– Central Tax (Rate), dated the 07.03.2019)

Important Point

The said persons 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 of the CGST Rules, 2017, till the 18th day of the month succeeding such quarter.

The said persons shall furnish a return for every financial year or, as the case may be, part thereof in FORM GSTR-4 of the CGST Rules, 2017, on or before the 30th day of April following the end of such financial year.

Related Notification

Notification No. 20/2019 Central Tax– Seeks to make Third amendment, 2019 to the CGST Rules.

Notification No. 21/2019- Central Tax– Seeks to notify procedure for quarterly tax payment and annual filing of return for taxpayers availing the benefit of CGST Notification No. 02/2019– Central Tax (Rate), dated the 07.03. 2019

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