A total of 3.5 lakh taxpayers are set to benefit from the process as they won't need to visit the GST portal anymore while filing their returns.
Another process of filing GST returns has been made easier for small traders. The GST Network (GSTN) has started the facility of filing quarterly returns through SMS for composition taxpayers with NIL returns. A total of 17.11 lakh taxpayers are registered under the composition scheme, out of which 20 percent or 3.5 lakh taxpayers are NIL returns.
This means that small traders or small business houses which do not have any GST dues or tax liability can now file their GST returns by just sending an SMS. They will not need to visit the GST portal. However, the business houses which have to pay tax will not be able to avail this facility.
“Composition taxpayers can now file NIL statement in Form GST CMP-08 through SMS and without logging in to the GST portal. CMP-08 is a quarterly statement of self-assessed tax to be submitted by Composition Taxpayers,” a statement by Goods and Services Tax Network (GSTN), said.
Here is how to file tax return through SMS GSTN:
1. The assessee will have to type 'NIL <space> C8 <space> GSTIN <space> Return Period' in their mobile and send it to 14409.
2. After sending SMS, the taxpayer will get 6 digit verification code on his mobile.
3. This 6 digit code has to be sent again to 14409 so that NIL form CMP-08 can be confirmed.
4. GST portal will send the application reference number (ARN) to taxpayers on mobile and e-mail.
5. The taxpayer can now view the status of Form CMP-08 on the GST portal, where it will appear 'Filed'.
It may be noted that if the taxpayer did not send the SMS in the manner specified, then his return will not be filed.
Who are composition taxpayers
Composition taxpayers are those whose annual turnover is Rs 1.5 crore or less. Such taxpayers have to deposit GST at the rate of 1 percent, 5 percent and 6 percent. The 1 percent rate is for manufacturers and traders, 5 percent is for restaurants and 6 percent for other service providers. These taxpayers only have to file tax returns on a quarterly basis. They do not get the benefit of input tax credit and also cannot issue tax invoices.
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