Circular No. 124/43/2019 – Clarification regarding filing of optional Annual returns under GST

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On 18-11-2019, the CBIC has issued the clarification regarding the optional filing of Annual returns of the taxable persons whose turnover do not exceed Rs. 2 crores. In this clarification, the emphasis have been laid on the following points:-

a. For the taxable persons opted for Composition scheme, they have to file the Form GSTR 9A. However as per the notification dated 9th October 2019, it is option for them to file the Annual returns for FY 2017-18 and 2018-19 respectively. Hence, it is on their discretion to file the Annual returns or not. In this regards, it has been clarified that the if the Annual return has been filed after the due date, then the portal will not allow the taxable person to file their annual returns.

b. Similarly, in the case of taxable person having aggregate turnover less than Rs. 2 crores, the notification has also been effective on them and hence, it is upto them to file the optional annual returns for the respective financial years. However, the Annual returns should be filed on time and the after the due date, the portal will not allow the regular taxable persons to file the Annual returns.

To view and download the circular, click here Circular No. 124-2019

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