Quick Summary
In a move to ease the compliance burden on small businesses, the Central Board of Indirect Taxes and Customs (CBIC) has exempted businesses with an annual turnover of up to Rs 2 crore from filing the GSTR-9 form for the financial year 2023-24. The notification reads: "In exercise of the powers conferred by the first proviso to section 44 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Commissioner, on the recommendations of the Council, hereby exempts the registered person whos
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FAQ :
Registered persons whose aggregate turnover in the financial year 2023-24 is up to Rs 2 crore are exempt from filing the GSTR-9 annual return.
GSTR-9 is an annual return form that requires taxpayers to provide detailed information on purchases, sales, input tax credit, refund claims, and tax demands for the financial year.
Composition Scheme Dealers, Casual Taxable Persons, Non-Resident Taxable Persons, Input Service Distributors (ISD), and persons required to deduct/collect tax at source (TDS/TCS) are not eligible for this exemption.
The exemption aims to reduce the regulatory burden and costs for small businesses, enabling them to focus more on their core activities and supporting their growth.
No, even if your GST registration was cancelled during the year, you are still required to file the annual return.
Taxpayers who opted out of the composition scheme during the financial year must file Form GSTR-9 for the period they were under normal tax rates.
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