GST Monthly Return Filing Regular Scheme (Upto 25 Invoices)
If you are registered under the Goods and Services Tax (GST) in the regular scheme and your turnover is less than Rs. 1.5 crore, you can opt to file your monthly returns with a maximum of 25 invoices through the GST CMP-08 form. Here are the steps to file GST monthly returns in the regular scheme:
Step 1: Log in to the GST portal
Visit the GST portal at www.gst.gov.in and log in using your valid credentials, such as your user ID and password.
Step 2: Select the CMP-08 form
After logging in, select the CMP-08 form under the 'Services' tab.
Step 3: Fill in the details
Fill in the details such as your GSTIN, financial year, tax period, and the number of invoices issued. Also, provide the details of the taxable outward and inward supplies made during the tax period, and the tax payable and paid for the month.
Step 4: Verify the details
Verify the details provided in the CMP-08 form and ensure that all the information is accurate and complete.
Step 5: Submit the form
Once you have verified the details, submit the CMP-08 form on the GST portal.
Step 6: Pay the tax liability
After submitting the CMP-08 form, you will be directed to pay the tax liability, if any, for the month. You can make the payment through various modes such as net banking, debit card, or credit card.
Step 7: File the GSTR-3B return
Once the tax liability is paid, file the GSTR-3B return for the month by providing the details of the inward and outward supplies made, tax payable and paid, and other necessary details.
In summary, filing monthly returns in the regular scheme with a maximum of 25 invoices is a simple process. You can file your returns by filling in the CMP-08 form, verifying the details, submitting the form, paying the tax liability, and filing the GSTR-3B return. It is essential to file your returns on time to avoid any penalties or late fees.
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