Quick Summary
The Central Board of Indirect Taxes and Customs, via their official Twitter handle, have clarified to the taxpayers that registered persons having an aggregate turnover of less than Rs. 2 crores, do not necessarily have to file GSTR 9 and 9C, as the same was made optional for them via Notification No. 77/2020 - Central Tax. Read the official Tweet below:
Please note furnishing of annual return under section 44(1) of the CGST Act for FY 2019-20 has been made optional for registered person having aggregate turnover less than Rs. 2 crore ( Refer notification No 77/2020- Central Tax, dated 15.10.2020).
FAQ :
Registered persons with an aggregate turnover of less than Rs. 2 crores are exempt from filing the GST Annual Return.
There is no mandatory threshold mentioned for filing the GST Annual Return; instead, it has been made optional for those with turnover below Rs. 2 crores.
The clarification pertains to the GST Annual Return (GSTR 9) and the GST Annual Audit Report (GSTR 9C).
The change is based on Notification No. 77/2020 - Central Tax, dated 15.10.2020.
No, furnishing the annual return under section 44(1) of the CGST Act for FY 2019-20 has been made optional for registered persons with an aggregate turnover of less than Rs. 2 crore.
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