Tax turnover composition scheme

Yes, you are required to report nil-rated supplies in your GST filings.

Under the GST Composition Scheme, while you do not file monthly returns, you must report your turnover correctly in your filings. Here is the breakdown of how this applies to your documentation:

• Quarterly Payment Statement (Form GST CMP-08): In this quarterly statement, you are required to declare your self-assessed tax liability. This includes providing turnover details for taxable, exempt, and nil-rated outward supplies.

• Annual Return (Form GSTR-4): This form serves as the annual reconciliation of your quarterly CMP-08 filings. You must report all your outward supplies here, which includes the value of your nil-rated supplies.

• Aggregate Turnover: Even for the purpose of calculating your "Aggregate Turnover" (which determines your eligibility for the Composition Scheme), you must include the value of all supplies made, including taxable goods/services, exempt supplies, and nil-rated supplies.

Important Summary

• Requirement: Yes, you must report nil-rated supplies in both your quarterly CMP-08 statements and your annual GSTR-4 return.

• Purpose: These figures are necessary for the GST portal to accurately calculate your total aggregate turnover and verify your continued eligibility for the Composition Scheme.

• Documentation: Always maintain records of these supplies, even though composition dealers have simplified compliance requirements.

Summary: You are required to report nil-rated supplies in both the quarterly CMP-08 statement and the annual GSTR-4 return. These details are essential for reporting your accurate aggregate turnover and maintaining compliance with Composition Scheme rules.