Composition Scheme compliance updated: new quarterly statement requirement and specified timelines for returns and cessation. Registered persons whose registration is cancelled and later revoked must furnish returns for the cancellation-to-revocation period within thirty days of revocation. Rule 62 requires taxpayers paying under the composition scheme or by availing the specified departmental notification to file a quarterly statement in FORM GST CMP-08 by the 18th day of the month succeeding the quarter and an annual return in FORM GSTR-4 by the 30th April following the financial year; transitional statements and cessation reporting obligations are prescribed. FORM GST CMP-08 and a REG-01 instruction for option indication are inserted.
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Composition Scheme compliance updated: new quarterly statement requirement and specified timelines for returns and cessation.
Registered persons whose registration is cancelled and later revoked must furnish returns for the cancellation-to-revocation period within thirty days of revocation. Rule 62 requires taxpayers paying under the composition scheme or by availing the specified departmental notification to file a quarterly statement in FORM GST CMP-08 by the 18th day of the month succeeding the quarter and an annual return in FORM GSTR-4 by the 30th April following the financial year; transitional statements and cessation reporting obligations are prescribed. FORM GST CMP-08 and a REG-01 instruction for option indication are inserted.
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