Quick Summary
The Central Board of Indirect Taxes and Customs, via Notification No. 31/2021 -Central Tax has exempted taxpayers having an aggregate turnover of Rs. 2 crores from the requirement of filing an annual return for FY 2020-21. This notification shall come into force from 1st August 2021 onwards. The relevant text of the notification is as follows: 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 Commiss
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1999
(Excl. of GST ₹359)
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3499
(Excl. of GST ₹629)
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4999
(Excl. of GST ₹899)
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FAQ :
Registered taxpayers whose aggregate turnover in the financial year 2020-21 was up to Rs 2 crore are exempt from filing the annual return.
The aggregate turnover threshold is Rs 2 crore for the financial year 2020-21.
This exemption comes into force from 1st August 2021.
This exemption applies to the financial year 2020-21.
The Central Board of Indirect Taxes and Customs (CBIC) issued this exemption via Notification No. 31/2021 - Central Tax.
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