CA in Jaipur | CA. Yogesh Jangid |ITR Filing 2023 | Company Registration | NGO Registration | Income Tax Raid Cases | Audit | Inc Incroporation | CPA in India | Subsidy | Project Funding | GST | GST Raid Cases | Income Tax Notice Faceless | DRI Cases | https://www.nyca.in ITR Filing 2023 | Company Registration | NGO Registration | Income Tax Raid Cases | Audit | Inc Incroporation | CPA in India | Subsidy | Project Funding | GST | GST Raid Cases | Income Tax Notice Faceless | DRI Cases Fri, 12 Jul 2024 06:08:56 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.1 https://www.nyca.in/wp-content/uploads/2022/08/9060CA_logo_icai-1.jpg CA in Jaipur | CA. Yogesh Jangid |ITR Filing 2023 | Company Registration | NGO Registration | Income Tax Raid Cases | Audit | Inc Incroporation | CPA in India | Subsidy | Project Funding | GST | GST Raid Cases | Income Tax Notice Faceless | DRI Cases | https://www.nyca.in 32 32 CBIC Exempts Taxpayers with Turnover up to ₹2 Crore from Annual Returns for FY 2023-24 https://www.nyca.in/cbic-exempts-taxpayers-with-turnover-up-to-2-crore-from-annual-returns-for-fy-2023-24/ https://www.nyca.in/cbic-exempts-taxpayers-with-turnover-up-to-2-crore-from-annual-returns-for-fy-2023-24/#respond Fri, 12 Jul 2024 06:08:56 +0000 https://www.nyca.in/?p=12232 The CBIC has announced an exemption for taxpayers with an aggregate turnover of up to ₹2 crore from filing Annual Returns in FORM GSTR-9/9A for the financial year 2023-24, effective July 10, 2024. Learn more about this important update.

The post CBIC Exempts Taxpayers with Turnover up to ₹2 Crore from Annual Returns for FY 2023-24 appeared first on CA in Jaipur | CA. Yogesh Jangid |ITR Filing 2023 | Company Registration | NGO Registration | Income Tax Raid Cases | Audit | Inc Incroporation | CPA in India | Subsidy | Project Funding | GST | GST Raid Cases | Income Tax Notice Faceless | DRI Cases.

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Background:

During the 53rd GST Meeting of the GST Council on June 22, 2024, held in New Delhi, it was recommended to exempt taxpayers with an aggregate annual turnover of up to two crore rupees from filing Annual Returns in FORM GSTR-9/9A for the financial year 2023-24.

Notification:

The CBIC, through Notification No. 14/2024 – Central Tax dated July 10, 2024, has exercised its powers under the first proviso to Section 44 of the CGST Act to exempt registered persons whose aggregate turnover for the financial year 2023-24 is up to two crore rupees from filing the annual return.

Effect of the Notification:

Taxpayers with an aggregate turnover of up to two crore rupees in the financial year 2023-24 are not required to file Annual Returns in FORM GSTR-9/9A.

The Notification can be accessed at:
https://www.nyca.in/wp-content/uploads/2024/07/Notification_No._14_2024_–_Central_Tax_10.7.2024.pdf

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