Overview Of Gst CMP-08 Quarterly Return In Marg Software

Process To Generate Gst CMP-08 Quarterly Return In Marg Software

OVERVIEW OF GST CMP-08 QUARTERLY RETURN IN MARG SOFTWARE

• 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. Let’s discuss the following topics in detail.
• A composition dealer will use 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 QUARTERLY RETURN IN MARG SOFTWARE

• Go to Gst > CMP-08 Quarterly Returns.

A 'GST CMP-08' window will appear.

a. Select Period: The user will select the month for which the quarter report needs to be viewed.

b. Form: As the user selects the quarter date will get auto-picked by the software.

c. To: As the user will select the quarter date will get auto-picked by the software.

d. Tax on: The user will select whether the tax needs to be calculated on Gross or Taxable Value.

e. Tax Rate: The user will select the Tax Rate as per the category they fall into, for traders it is 1%, for Manufacturers it is 2% and for restaurants, it is 5%.

f. Name: The user will mention the name of the person who is generating the report.

g. Designation: The user will mention the designation of the person who is generating the report.

h. Place: The user will mention the place where the report is generating.

i. Report Date: Mention the date on which the user is generating the report.

Now, the user will click on 'Excel' button.

• A Marg ERP 9+ alert of 'GST CMP-08 EXCEL....' will appear.
• Click on 'Ok'.

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