All about GST PMT-08 Form

After the recommendation of GST council meeting, the government has issued new simplified GST forms for filing of returns. The reason for issuing such new return is to facilitate taxpayers and ease compliance. As per new GST return filing Form, PMT-08 would be used for the payment of tax. This form shall be treated as ‘self-assessed tax’ which would be required to deposit on a monthly basis. Once the payment has been made in form PMT-08 by the person only then he shall be eligible for taking Input Tax Credit (ITC). Now, let us understand the details of the GST PMT-08 FORM in this article.


Due Date for the payment of GST PMT-08

It is a monthly return in which the taxpayer would have to deposit his self-assessed tax liability within the 20th of next month or the quarter in which the taxpayer would collect the GST from the recipient. As we already discussed above, after the payment of tax liability, the taxpayer shall be entitled to Input Tax Credit. 

Under New GST Returns, we will see two kinds of the taxpayer, one whose turnover in the previous financial year is up to 5 crore and other whose turnover exceeds Rs.5 crore. Those registered people whose turnover is up to Rs.5 Crore, they will be called Small taxpayers. Small taxpayers were. 

The smaller taxpayers would be required to file quarterly returns in form GST RET-1, Sahaj, or Sugam and taxes would be paid at the time of filing their quarterly return. Also, In addition, these small taxpayers would have to pay self-assessed tax (without any accompanying return) using this Form PMT-08 on the first 2 months of every quarter. 

The taxpayers other than small taxpayers, who are required to file the Normal Return FORM GST RET-1, will have to make a monthly payment of taxes on filing PMT-08, due before the 20th of the month following every return period.

Format of GST Form PMT-08

There are 5 main different categories are included in form PMT-08 which are as follows:

GST Identification Number

At the time of filing of the form, the GST Identification number of the taxpayer would be auto-populated shown in the return at the time of filing.

Other Details

The Form shall contain the following information about the taxpayer:

  • Name of the registered person
  • Business name of the registered Person
  • Application Reference Number (ARN)
  • Date of filing of Return
  • All these above-specified fields under this section will be automatically shown in the form based on the GSTIN of the taxpayer.

Summary of Self-Assessed Tax Liability and Input Tax Credit Availed 

In this section, the details of tax liability shown in the following manner:

  • Those amount of tax liability which is required to be in relation to the supply of goods or services other than reverse charge.
  • Secondly, it will show the tax liability of the supply of goods or services including reverse charge
  • Amount of Input Tax Credit (ITC) claimed 
  • Tax payment to be made

Verification Process

Once the taxpayer has agreed with the details mentioned in the form, then he would have to verify such form by e-signing. The taxpayer shall be able to file the return only after the processing of verification.

The GST Form PMT-08 is furnished below for ready reference:

gst registration

Miscellaneous Points

In the following, we will discuss some of the important aspects of GST PMT-08 Form:

  • GST Form PMT-08 is a general form which is used for all kinds of GST Returns whether it’s a GST RET-1, GST RET-2 or GST RET-3.
  • As we have already discussed above that although the small taxpayers would have to file the return on a quarterly basis still they will have to pay their self-assessed tax monthly depending upon the supplies of goods or services of that particular month. It is to be noted that GST PMT-08 Form would have to be filed each month by the taxpayer irrespective of the supplies of goods or services in the month.
  • With the help of form GST PMT-08, the taxpayer can easily claim the eligible Input Tax Credit (ITC).
  • As per the section 50 of the CGST Act, if the taxable person has claimed excess Input Tax Credit or declares short liability in the GST PMT-08 Form, then he shall be liable for the penalty and interest at the rate mentioned in this section.
  • The tax that is paid by the taxpayer in the early 2 months of the quarter the ITC will be prepared at the time of filing GST RET-1.
  • The tax liability may be set off with either e-cash ledger deposited by the taxpayer through this form or credit ledger whichever is available at that certain time.
  • The tax paid in the first two months by the small taxpayers who would be required to file the quarterly return would be available in the E-cash ledger at the time of providing the GST Return form.

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