06 July 2024
Based on the query regarding a composite dealer's CMP-08 filing and subsequent adjustments in GST liability, here are the answers to your questions:
1. **Creating Challan or Paying via DRC-03:** - When a composite dealer has a negative liability or excess credit in the GST CMP-08 statement, the usual procedure involves adjusting this against future liabilities. If the negative liability cannot be fully adjusted in subsequent quarters, the dealer may need to consider either creating a challan for payment or using DRC-03 for setting off the excess amount.
2. **Nullifying Negative Liability Statement Balance:** - If the negative liability statement balance is not nullified or zeroed out in the GST portal after adjustments in subsequent quarters, the dealer should take action to correct this. This might involve following up with the GST portal support or submitting a revised return if necessary.
3. **Procedure for Subsequent Quarters (2nd, 3rd, and 4th):** - For subsequent quarters (2nd, 3rd, and 4th quarters of FY 2021-22), the dealer should continue to adjust any excess credits or negative liabilities against future tax liabilities in CMP-08 filings. - If the negative liability persists or if adjustments are not reflecting correctly, the dealer should monitor the CMP-08 filings closely and take corrective action promptly. - In case of unresolved issues or discrepancies, raising a ticket on the GST grievances portal and following up through official channels is recommended.
To summarize, ensure that any excess credit or negative liability in CMP-08 filings is adjusted correctly in subsequent periods. If issues persist, use the GST grievances portal to seek resolution and follow up diligently to maintain compliance with GST regulations.
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