The Union Finance Minister Nirmala Sitaraman presided over the 50th meeting of the GST Council on 11th July 2023 at Vigyan Bhawan in New Delhi including Revenue Secretary, CBIC chairman.
Read more : 50th GST Council Meeting: Key Highlights
The GST Council made many recommendations relating to GST rates on Goods. It was categorised into exempted, regularised and reduced by the council.
The Council has recommended that the relaxations provided in Financial Year (FY) of 2021-22 in respect of various tables of FORM GSTR-9 andFORM GSTR-9C be continued for Financial Year (FY ) of 2022-23.
The Form GSTR-9/9A is a reconciliation statement between the annual financial year and audited financial statement of the taxpayer.
The GST Council further, for easing compliance burden on smaller taxpayers, exemption from filing of annual return (in FORM GSTR-9/9A) for taxpayers having aggregate annual turnover upto two crore rupees, to be continued for FY 2022-23 also.
Through this recommendations made by the GST Council made easier to the small taxpayers and got relief to them by quoting annual turnover limit to the recommendations.
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