Here's some more good news on GST! These people don't have to file annual returns. Are you on the list?

New reduced GST rates came into effect on September 22nd. Along with this, some individuals and businesses have also been given relief from filing GST. In fact, on September 17th, 2025, the government announced a special exemption for certain small businesses and professionals, which will completely exempt them from filing annual GST returns for the financial year 2024-25, which is due by December 31st, 2025.

This is being considered a significant positive step for select GST-registered businesses and professionals, as it can help them avoid the additional expenses associated with filing GST annual returns.

Who will be exempted?
Registered individuals with a total turnover of up to ₹2 crore (approximately $20 million) in any financial year will be eligible for this exemption. The notification dated September 17, 2025, states that in exercise of the powers conferred by the first proviso to sub-section (1) of section 44 of the CGST Act, 2017 (12 of 2017), the Commissioner (on the recommendation of the Council) has, in the matter of filing the annual return for the financial year 2024-25, exempted registered persons having aggregate turnover up to ₹2 crore in any financial year from filing the annual return for the previous financial year.

Who is required to pay GST?
As per GST provisions, any taxpayer with a turnover of up to ₹5 crore is required to file an annual return by a certain date. However, the government has been relaxing the rules from time to time and exempting small taxpayers with a turnover of up to ₹2 crore from filing this annual return.

How will small taxpayers benefit?
The exemption from filing annual returns for FY 2024-25 will certainly relieve small taxpayers from the hassles of additional compliance (compliance with regulations), which also involves additional expenses.

However, filing annual returns provides taxpayers with an opportunity to correct/pay any omissions/mistakes made during monthly/quarterly compliance.

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