The Initial Team

No monthly returns by taxpayers with less than Rs. 5 cr annual turnover: Finance SECRETARY

No monthly returns by taxpayers with less than Rs. 5 cr annual turnover: Finance SECRETARY

From January 1 , 2021 , the taxpayers whose annual turnover is less than Rs. 5 crore will not be required to file monthly returns (GSTR 3B and GSTRI ), Finance Secretary Ajay Bhushan Pandey said after the 42nd GST Council meeting. “They will only file quarterly returns,” he added. “This will be a major relief to small taxpayers,” Bhushan said.

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