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Annual return

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akshayshah

Student CA Final

25 Points Posted on 22 July 2020

what is threshold limit for filling annual return for FY 2019-20. If possible give reference of notification/section confirming the limit.

Thanks in advance!!!

Replies (4)

Quick Summary

This discussion clarifies the threshold for filing the Annual Return (Form GSTR-9) for the Financial Year 2019-20. As of the discussion, no specific exemption or threshold limit has been announced by the government for this period. Unlike previous years where a threshold of Rs. 2 crore or Rs. 5 crore applied for mandatory filing or GSTR-9C, taxpayers are currently expected to file the Annual Return regardless of turnover for FY 2019-20.

CA ABHAY GUPTA

Practice

1639 Points Posted on 22 July 2020

I think no such announces by Govt yet..

Shivam RC

Student

7666 Points Posted on 22 July 2020

For FY 2019-20, No such exemption is provided for filing Annual Return ( FORM GSTR-9 ) till now. For FY 2017-18 & FY 2018-19, it was made MANDATORY only for those taxpayers whose Aggregate Turnover exceeds Rs. 2 crores.

Hence Annual Return under Section 44 of the CGST Act 2017 needs to be filed by every Registered Taxpayer for FY 2019-2020 as of now.

CA Raj Doshi

Practising CA

5649 Points Posted on 23 July 2020

For FY 2018-19, the threshold limit had been increased to 5 crores.

Shivam RC

Student

7666 Points Posted on 23 July 2020

@ Raj C Doshi Sir,

Reconciliation Statement and Audit Report ( FORM GSTR-9C) was made Mandatory only for those Taxpayers whose Aggregate Turnover exceeds Rs. 5 crores for FY 2018-19 vide Notification No. 16/2020 - Central Tax, dated 23rd March 2020.

But the query is regarding applicability of Annual Return ( FORM GSTR-9 ) for FY 2019-20. As of now, no notification have been issued from the Government side regarding this matter.