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GST TAX COMPLIANCES REDUCED FOR FY 2020-21

Govt Reduces Compliance Burden For GST Taxpayers

Laxman: What is the new relaxation for GST taxpayers?

Ram: Taxpayers with Annual Aggregate Turnover (AATO) up to Rs. 5 crore are not required to file the reconciliation statement in Form GSTR-9C for fiscal year (FY) 2020-21 onwards.

Laxman: What about Taxpayers AATO above Rs. 5 crore?

Ram: Taxpayers AATO above Rs. 5 crore can now self-certify the reconciliation statement in Form GSTR-9C for FY 2020-21 onwards, instead of getting it certified by a Chartered/Cost Accountant.

Laxman: What about taxpayers having AATO upto Rs 2 crore only ?

Ram: Taxpayers having AATO upto Rs 2 crore only are not required to file Annual Return (Form GSTR-9) for FY 2020-21.