As the deadlines for filing CMP-08 and GSTR-4 for the financial year FY2023-24 approach, it’s crucial for taxpayers to be aware of the consequences associated with delayed filing. Let’s delve into the details:
CMP-08 (Jan-Mar 24):
CMP-08, a quarterly return, is filed by taxpayers registered under the Composition Scheme under the GST regime. The deadline for filing CMP-08 for the period January to March 2024 is April 18, 2024. It’s important to note that while late filing incurs interest, no late fee is levied.
Consequence of Delayed Filing for CMP-08:
- Interest Leviable: Taxpayers are liable to pay interest for delayed filing of CMP-08. However, no late fee is imposed.
GSTR-4 (FY 2023-24):
GSTR-4 is a quarterly return filed by taxpayers opting for the Composition Scheme. The deadline for filing GSTR-4 for the financial year 2023-24 is April 30, 2024.
Consequence of Delayed Filing for GSTR-4:
- Late Fee: As per Notification No. 73/2017-CT, a late fee of Rs. 20 is applicable for nil returns and Rs. 50 for others. However, as per Notification No. 21/2021-CT, the maximum late fee is capped at Rs. 500 for nil returns and Rs. 2000 for others.
How to file GSTR-4:
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I have not filled anual return 2022-2023 GSTR4 now possible to file ? and what is process for the same thanks