GST Council reduces Compliance Burden for Small Taxpayers

Taxpayers with annual aggregate turnover up to Rs. 2 crore are not required to file Annual Return using Form GSTR-9 for FY 2023-2024. 

As a result, the compliance burden for small taxpayers has been reduced

What is Form GSTR-9?

Form GSTR-9 refers to an annual return which is required to be filed by the taxpayers once for each financial year, including SEZ units and SEZ developers. 

It is mandatory for the taxpayers to furnish details of purchases, sales, input tax credit or refund claims or demand created etc. in Annual Return. However, for FY 2023-2024, GST Council has waived off filing of Annual Return using Form GSTR-9.