Overview of GST CMP-08 report in Marg Books

Process to generate GST CMP-08 report in Marg Books

OVERVIEW OF GST CMP-08 REPORT IN MARG BOOKS

• In April 2019, a new return-filing procedure was laid down for composition dealers. Form CMP-08 was introduced in April 2019 to make it applicable from FY 2019-2020 onwards. It replaces the erstwhile quarterly GSTR-4 filed by composition dealers. 
• A composition dealer will use the Form CMP-08, which is a special statement-cum-challan to declare the details or summary of his/her self-assessed tax payable for a given quarter. It also acts as a challan for making payment of tax. A composition dealer is a dealer who has been registered under the composition scheme of GST.
• In addition to Form CMP-08, a composition dealer will also need to file his/her annual return via the revised format of Form GSTR-4 by 30 April following the end of a specific fiscal year.

PROCESS TO GENERATE GST CMP-08 REPORT IN MARG BOOKS

• Firstly, click on 'Report'.

• A 'Combined Report' window will appear.
• The user will click on 'Statutory Report' tab.

• In 'Statutory Report' option, the user will click on 'GSTR-4/9A For Composition'.

A 'GSTR-4/Comp For Composition' window will appear.

a. Return Type: The user will select 'Quarterly'.

b. Quaterly Period: The user will select quarterly period to view GST CMP-08 report. 

Suppose select '3rd (Oct-Dec)'.

c. Tax On: The user will select whether to compute tax based on the gross or taxable value.

Suppose select 'Gross'.

d. Tax Rate: The user will pick the tax rate corresponding to their category, such as 1% for traders, 2% for manufacturers, or 5% for restaurants.

Suppose, select '1%'.

• The user will click on 'Excel Return'.

After following the above steps, the user can view GST CMP-08 report will get generated in Excel in Marg Books.