It is compulsory to file GSTR-9 for proprietary firm if turnover is less than 1.50 Coror for the FY 2017-18
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Filing the GSTR-9 annual return is optional for taxpayers whose aggregate turnover did not exceed Rs. 2 Crores for the financial years 2017-18 and 2018-19. This was clarified by Notification No. 47/2019 - Central Tax and a CBIC press release in March 2020. Importantly, no late fees will be charged for delayed filing of these annual returns for eligible taxpayers.
Filing of Annual Return ( FORM GSTR-9 ) for the first two financial years of GST i.e. FY 2017-18 and FY 2018-19 has been made "OPTIONAL" for those Taxpayers whose Aggregate Turnover does not exceeds Rs. 2 Crores, vide Notification No. 47/2019 - Central Tax, dated 09.10.2019.
Moreover the CBIC vide Press Release dated 14th March 2020 clarified that no Late Fees will be levied for delayed filing of Annual Return for the FY 2017-18 & FY 2018-19 for those taxpayers having Aggregate Turnover upto Rs. 2 crores.