The Finance Ministry has given good news for GST traders through its X (formerly Twitter) social media account. The ministry said that small traders will no longer have to fill a special form.
According to the tweet, small taxpayers with turnover up to Rs 2 crore will no longer have to fill a form.
This form is GSTR-9. This form was filed in the annual return. Now according to the new rules, traders doing business up to Rs 2 crore will not have to pay this.
The Finance Ministry has cited notification number 32/2023-CT for reference of this decision. This notification was issued by the Finance Ministry on 31 January 2023.
According to the data released by the Finance Ministry, the number of people paying GST tax has increased by more than 34 lakh in the last 3 years. The number of people filing GST by April 2023 is 1.39 crore.
