Composition Levy Scheme is an optional scheme available only to the small taxpayers. Under this scheme, the taxpayer has to pay an amount equal to fixed percentage of his annual turnover as tax to the government. The different kinds of forms available in composition levy scheme are as follows:
GST CMP-01
GST CMP-01 form is required to be filed by provisionally register assessees stating their intimation to the government that they are willing to pay tax under the Composition Levy Scheme. Having stated that, the provisionally register assessees are those person that migrate from the pre-existing laws of VAT, sales tax, excise to the present law, also known as GST. Intimation through CMP-01 should be either verify via Electronic Verification Code (EVC) or must be duly signed.
| Particulars (CMP-01) | Details |
|---|---|
| Due date for filing | This form is to be filed within 30 days from the date on which the option for composition levy is exercised |
| Contents of the form | GSTIN ID Legal Name Trade Name, if any Address of principal place of business Category of registered person Financial Year in which scheme is opted Jurisdiction/State/Centre Declaration Verification Signature |
Also Read: Qualifications for GST Registration
GST CMP-02
The form GST CMP-02 is an online application form which is to be filed by any taxpayer who wants to opt for composition levy under GST. Further, even a new taxpayer who is eligible to be registered under GST Act. It can also file an application to opt for the Composition Levy Scheme. However, such a taxpayer is required to file an online application. This application to opt for the composition levy in Form GST REG-01 i.e., application for new GST registration. This intimation through GST CMP-08 must also be either verify through Electronic Verification Code (EVC) or must be duly signed.
| Particulars (CMP-02) | Details |
|---|---|
| Due date for filing | This form is to be filed at the GST portal before the commencement of the financial year for which the option to pay composition tax is exercised. |
| Contents of the form | GSTIN ID Legal Name Trade Name, if any Address of principal place of business Category of registered person Financial Year from which the composition scheme is opted Jurisdiction/State/Centre Declaration Verification Signature |
GST CMP-03
The form GST CMP-03 is to be filed by the GST registered person in addition to the form GST CMP-02. Through filing of this form GST CMP-03, the person intimates the government about the amount of stock (including the inward supply of goods from unregistered persons) held by them on the date of opting of the scheme.
| Particulars (CMP-03) | Details |
|---|---|
| Due date for filing | This form is to be filed at the GST portal within 120 days from the appointed date of filing CMP-02. |
| Contents of the form | GSTIN ID Legal Name Trade Name, if any Address of principal place of business Details of application filed to pay tax under Section 10 Jurisdiction/State/Centre Stock of purchases made from registered person under the existing law Stock of purchases made from unregistered person under the existing law Details of tax paid Verification Signature |
GST CMP-04
The person who are registered under GST and intends to withdraw from his composition scheme has to file an through form GST CMP-04. This intimation is to be either verify electronically via Electronic Verification Code or must be digitally signed. After opting out of the scheme, he has to pay tax as normal tax payer and issue tax invoice for every taxable supply made thereafter.
| Particulars (CMP-04) | Details |
|---|---|
| Due date for filing | The intimation in Form GST CMP-04 should be filed within seven days of withdrawal (the date the taxpayer plans to opt-out of the Composition Scheme or becomes ineligible) |
| Contents of the form | GSTIN ID Legal Name Trade Name, if any Category of registered person Nature of Business Date from which withdrawal from composition is sought Jurisdiction/State/Centre Reasons for withdrawal from such composition scheme Verification Signature |
GST CMP-05
Form GST CMP-05 is a form which is issued by GST Officer to a Composition dealer comprising of Show Cause Notice (SCN). This SCN is issued to the dealer when the GST Officer wants some explanation as to why should the dealer allow to avail the benefits of Composition Scheme.
The cases where SCN is issued are as follows:
– The GST Officer has reasons to believe that the dealer has wrongly opt for composition scheme
– The dealer has contravened the provisions of the scheme
| Particulars (CMP-05) | Details |
|---|---|
| Due date of issuing SCN | No fixed due date. It is issued at the discretion of the GST Officer. |
| Contents of the form | Reasons for issuing SCN Direction to reply to notice Appearance before GST Officer |
GST CMP-06
Form GST CMP-06 is reply to the notice received in GST CMP-05. Since it is a reply, it is submitted by the Composition Dealer to the GST Officer. The reply through this form should contain proof of all the conditions. These conditions of the Composition Levy Scheme that have been followed by the dealer.
| Particulars (CMP-06) | Details |
|---|---|
| Due date for replying to SCN by Composition dealer | 15 days from the date of receipt of the notice |
| Contents of the form | GSTIN Details of the Show Cause Notice Legal Name Trade Name, if any Address of Principal Place of Business Reply to the notice List of documents uploaded Verification Signature |
Also Read: GST Calculator: How To Calculate GST?
GST CMP-07
After the SCN has been issued through GST CMP-05, reply has been filed through GST CMP-06. There now comes the discretion of GST Officer to accept or reject the reply filed by the dealer. This acceptance or rejection of the reply by GST Officer is done through form GST CMP-07. In other words, GST CMP-07 is issued by the GST Officer after examining the reply of the dealer and giving him a chance to appear in person.
If the GST Officer finds the reply satisfactory, then he may accept the reply. Further, they allow the dealer to continue to avail the benefits under the Composition Levy Scheme. On the other hand, if the GST Officer finds out that the reply is not satisfactory or dealer does not reply within the time stipulated. Then he may stop the taxpayer from availing the benefits under the Composition Scheme.
| Particulars (CMP-07) | Details |
|---|---|
| Due date for passing order of acceptance or rejection by GST Officer | The officer should issue the order within thirty days of receiving CMP-06. If the reply is not received from the dealer, the order should be issued within thirty days from the date of expiry of the time limit of fifteen days from the date of issue of SCN. |
| Contents of the form | Reference number GSTIN Name Address Order for acceptance/rejection of reply to Show Cause Notice Signature |
GST CMP-08
GST CMP-08 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. Having stated that, GST CMP-08 is to be filed by every person who has opted for composition scheme. This is in order to make deposit during each quarter.
| Particulars (CMP-08) | Details |
|---|---|
| Due date for passing order of acceptance or rejection by GST Officer | Form CMP-08 must be filed on a quarterly basis, on or before the 18th of the month succeeding the quarter of any specific fiscal year. |
| Contents of the form | Financial Year Quarter GSTIN Legal Name Trade Name ARN Date of filing Summary of self assessed liability Verification |
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