Background:
CBIC vide Notification No. 47/2019- Central Tax dated October 9, 2019 made annual return under Section 44(1) of the Central Goods and Services Tax Act, 2017 (“CGST Act”) for the F.Y. 2017-18 and 2018-19 optional for small taxpayers whose aggregate turnover is less that INR 2 crores and who have not filed the said return before the due date.
Notification:
CBIC vide Notification No. 77/2020 – Central Tax dated October 15, 2020 notified the applicability of the above-mentioned notification for the financial year 2019-20 also. Now the notification reads as under:
“In exercise of the powers conferred by section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Act), the Central Government, on the recommendations of the Council, hereby notifies those registered persons whose aggregate turnover in a financial year does not exceed two crore rupees and who have not furnished the annual return under sub-section (1) of section 44 of the said Act read with sub-rule (1) of rule 80 of the Central Goods and Services Tax Rules, 2017 (hereinafter referred to as the said rules) before the due date, as the class of registered persons who shall, in respect of financial years 2017-18, 2018-19 and 2019-20, follow the special procedure such that the said persons shall have the option to furnish the annual return under sub-section (1) of section 44 of the said Act read with sub-rule (1) of rule 80 of the said rules:
Provided that the said return shall be deemed to be furnished on the due date if it has not been furnished before the due date.”
The Notification can be accessed at: http://www.a2ztaxcorp.com/wp-content/uploads/2020/10/No.-77-2020-–-Central-Tax.pdf