Relief from GST annual return filing for these taxpayers; Know its impact

Small businesses with turnover up to Rs 2 crore are exempt from filing GST annual returns starting FY 2024-25, offering relief from compliance burdens and associated costs. While simplifying processes, this exemption removes an opportunity for taxpayers to self-correct errors from monthly/quarterly filings. A new table introduced in GSTR-9 aims to improve clarity and transparency in input tax credit claims.

from Tax-Wealth-Economic Times https://ift.tt/Ba7t21J