We are composition scheme holder. File returns Cmp-08 quarterly basis. My question is should we liable to pay tax monthly basis.
for exp- Jan2020 sale figures Rs 4 Lacs. tax liability is Rs 4k (ie1% of sale value). should we deposit tax on February. if yes plz tell us the due date of payment
4 Replies
SOHAN LAL
(Manger Accounts & Finance)
(363 Points)
Replied 25 February 2020
You can pay quarterly basis. i.e 18th of next next quarter.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 25 February 2020
Liability will be payable on Quarterly basis by Composition Dealer...
So,
You can pay quarterly wise through filing of CMP-08.
But,
if You want to pay cash payment then You can pay through payment option and it's showing balance in Your Cash Ledger...
So,
You can pay quarterly wise through filing of CMP-08.
But,
if You want to pay cash payment then You can pay through payment option and it's showing balance in Your Cash Ledger...
BISWAJIT
(service)
(179 Points)
Replied 25 February 2020
Sir if payment made then it will be setoff at the time of quarterly return
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