Notification No. 31/2021 CT dated 30.07.2021
Central Government vide Notification No. 31/2021 CT dated 30.07.2021 has exempted registered persons having aggregate annual turnover (AATO) upto Rs 2 crore from filing of GST Annual Return ( Form GSTR 9) for Financial Year 2020-21
Therefore if the aggregate annual turnover of a registered person in Financial Year 2020-21 is not more than Rs. 2 crores, then the person would not be required to file GST Annual Return for that year. It is a welcome step as it would relieve the small and medium taxpayers from the huge compliance burden of filing GST Annual Return.
Notification No. 30/2021 CT dated 30.07.2021
Central Government vide Notification No. 30/2021 CT dated 30.07.2021 has substituted the previous Section 80 of CGST Act with the new one.
The changes made therein are as follows
- Those person specified under second proviso to section 44 of CGST Act would not be required to file GST Annual Return (Form GSTR 9) and GST Annual Reconciliation Statement (GSTR 9C).
Person specified in second proviso to section 44 of CGST Act are Central Government, State Government and local authority whose account are to be audited by CAG or those local authorities whose accounts are to be audited by the auditor appointed under any other applicable law.
- The other change is that now GST Annual Reconciliation Statement (GSTR 9C) which was to be duly certified from a practicing Chartered Accountant or Cost accountant , now can be filed only on the basis of self certification.
It is to be noted that GSTR 9C is to be filed by those registered person whose annual aggregate turnover is more than Rs. 5 crores
Notification No. 29/2021 CT dated 30.07.2021
Central Government vide Notification No. 29/2021 CT dated 30.07.2021 has notified that the provisions of section 110 and 111 of Finance Act 2021 pertaining to GST Amendment would be applicable from 01st August 2021.
Section 110 of Finance Act 2021 seeks to substitute section 151 of CGST Act in order to give jurisdictional commissioner power to call for information from any person relating to any matters which would be necessary or as per requirements under the CGST Act.
Section 111 of Finance Act 2021 is to amend section 152(1) of CGST Act to provide that information which has been obtained under sections 150 and 151 would not be used for the purposes of any proceedings under the Act unless opportunity of being heard is provided to the concerned person.
Now these provisions would come to effect from 01st August 2021 after the issue of N No. 29/2021 CT dated 30.07.2021
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