New GST Return Scheme for Small Taxpayers

• November 17, 2020
• CA Chandan Agarwal's Office

The Central Government is looking to overhaul the return filing system with a view to provide some relief to taxpayers with aggregate turnover under GST less than Rs. 5 crores. In this regard, it has released certain notifications to lay down a new scheme of return filing for such taxpayers. We have tried to summarise the changes / options in simple terms below.

Applicability

• The new scheme is applicable only to taxpayers having an aggregate turnover under GST law less than Rs. 5 crores in FY 2019-20 and in FY 2020-21 till date.

Read more on: https://taxguru.in/goods-and-service-tax/gst-return-scheme-small-taxpayers.html