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<h1>Quarterly Tax Payment Form for GST Composition Scheme Under Section 10, File 'Nil' if No Tax Due.</h1> Form GST CMP-08 is used for the quarterly payment of self-assessed tax under the Goods and Services Tax (GST) regime. It requires taxpayers, who are under the composition scheme as per section 10 of the Central GST Act, 2017, to report their self-assessed tax liabilities, including outward and inward supplies, and any applicable interest. The form mandates the declaration of the taxpayer's GST Identification Number, legal and trade names, and the date of filing. Instructions include guidelines on adjustments for advances, credit/debit notes, and the handling of negative tax values. Taxpayers must file a 'Nil' statement if no tax is due for the quarter.
TaxTMI