The Central Board of Indirect Taxes and Customs has issued a notification exempting taxpayers whose aggregate turnover was up to ₹2 crore in the financial year 2020-21 from filing their annual GST return. This exemption comes into effect from 1st August 2021. This measure aims to simplify compliance for smaller businesses.
Government of India
Ministry of Finance
(Department of Revenue)
Central Board of Indirect Taxes and Customs
Notification No. 31/2021 Central Tax
New Delhi, the 30th July, 2021
G.S.R......(E). In exercise of the powers conferred by the first proviso to section 44 of the Central Goods and Ser
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FAQ :
Registered persons whose aggregate turnover in the financial year 2020-21 was up to ₹2 crore are exempt from filing the annual return.
The aggregate turnover limit for exemption is up to ₹2 crore for the financial year 2020-21.
This notification comes into force from the 1st day of August 2021.
This exemption applies to the financial year 2020-21.
The Central Board of Indirect Taxes and Customs (CBIC), under the Ministry of Finance, Government of India, issued this notification.
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Notification No : 31/2021 – Central TaxPublished in GST
Source : https://www.cbic.gov.in/resources//htdocs-cbec/gst/notfctn-31-central-tax-english-2021.pdf