GST Council likely to scrap annual returns for small taxpayers

The GST Council, which is set to meet next on September 20 in Goa, is planning to waive off the annual returns pertaining to small taxpayers with an annual turnover below Rs 2 crore to ease their regulatory commitments, cited by a media report.

GST

GST Council in its meet on September 20 will consider the proposal to do away with the compliance of filing annual GST Returns — GSTR9, GSTR9A and GSTR9C, for the financial year 2017-18, 2018-19 for taxpayers below the threshold of the annual turnover of Rs 2 crores,” said the report, quoting a senior government official.

The last date for the completion of annual return forms and annual audit forms for the financial year 2017-18, has already been pushed from August 31 to November 30, 2019.

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the BFSI industry. Join Us for 3rd BFSI Cloud & Security Summit, Mumbai and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.