GST Annual Return voluntary if turnover is less than Rs.2 crores: CBIC notifies it’s applicability for FY 2019-20 also [Read Notification]

The Central Board of Indirect Taxes and Customs (CBIC) notified that the notification no. 47/2019 – Central Tax dated the 9th October, 2019 will be applicable for Financial Year 2019-20.

The notification dated the 9th October, 2019 seeks to make filing of annual return under section 44 (1) of CGST Act for Financial Year 2017-18 and 2018-19 optional for small taxpayers whose aggregate turnover is less than Rs 2 crores and who have not filed the said return before the due date.

The Board notified that in the said notification in the opening paragraph, for the words and figures “financial years 2017-18 and 2018-19”, the words and figures “financial years 2017-18, 2018-19 and 2019-20” shall be substituted.