CMP-08 Negative Liability of Previous Tax Period…Error

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Some composition taxpayers are facing issues related to CMP-08 negative liability of previous tax period in other than reverse charge section(6).

cmp-08

So some composition taxpayers couldn’t generate their challan for the current period liability and couldn’t pay their tax.

Why Showing Negative Liability

If you put the wrong amount or forget the amount to put in table number 6 (Tax rate wise inward and outward supplies) in previous annual returns GSTR-4.

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There may some reasons:-

  • Forget to enter the amount in table no.6
  • The wrong amount entered in table no.6
  • That time may GST portal is not working properly so you forgot or skipped it.
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Solutions

Don’t adjust current liability with negative liability. Because maybe possible govt allow to amendments or adjust with GST-4 annual return in the future.

If you adjust your current period liability with negative liability, then may be possible govt send you to demand or notice, so be careful and not adjust with CMP-08 negative liability.

If you couldn’t generate your challan automatically, then generate challan manually and pay your liability. Follow these steps until govt notifies for amendment.

Read This:- TDS on Purchase of Goods (Section 194Q) – Explained

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