Answer

1. F

   Facts

   A filed CMP-08 cannot be revised. Correct short payment in the next quarter's CMP-08 or in GSTR-4, and pay any shortfall with interest.

2. P

   Provisions and law

   • Rule 62, CGST Rules 2017A composition taxpayer files CMP-08 by the 18th of the month after each quarter and GSTR-4 by 30 June after the year (Notification 12/2024-CT).
   • Sec 50(1), CGST Act 2017Interest is payable on tax paid late for the period of delay at the notified rate (18 percent a year); on a late return it is levied only on the portion paid in cash, except where proceedings under Sec 73, 74 or 74A have started.
3. A

   Analysis

   If you showed ₹8 lakh instead of ₹10 lakh, pay tax on the extra ₹2 lakh in the next CMP-08 with interest from the original due date. GSTR-4 shows the correct annual figures. If you overpaid, the negative liability can be carried forward. Keep a note of the correction.

4. C

   Conclusion

   1. 1Find the correct turnover for the quarter.
   2. 2Add the difference in the next CMP-08.
   3. 3Pay interest on short tax from the original due date.
   4. 4Report correct annual figures in GSTR-4.

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.