The Central Board of Indirect Taxes and Customs (CBIC) has notified that the small businesses with turnover less than Rs. 2 core are exempted from filing GST Annual Returns for FY 2024-25.
“In exercise of the powers conferred by the first proviso to sub-section (1) of section 44 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Commissioner, on the recommendations of the Council, in respect of filing of annual return for the financial year 2024-25 onwards, hereby exempts the registered person whose aggregate turnover in any financial year is up to two crore rupees, from filing annual return that said financial year,” the CBIC notified.
Section 44 of the CGST Act deals with the Annual Return. It states that every registered person, other than an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-resident taxable person shall furnish an annual return which may include a self-certified reconciliation statement, reconciling the value of supplies declared in the return furnished for the financial year, with the audited annual financial statement for every financial year electronically, within such time and in such form and in such manner as may be prescribed.
Notification Details
Notification No. 15/2025 – Central Tax
Date: 17/09/2025
