The Central Board of Indirect Taxes and Customs vide Notification dated 18th November 2019, has issued a clarification regarding the optional filing of GST annual return.
CBIC has vide notification dated 9th October, 2019 that the registered persons whose aggregate turnover in a financial year does not exceed Rs. 2 crores and composite registered dealers shall have a special optional procedure to file annual returns.
It is further clarified by this notification that if any registered tax payer, during course of reconciliation of his accounts, notices any short payment of tax or ineligible availment of input tax credit, then he may pay the same through FORM GST DRC-03.
Click here to read the Notification.
