CBIC Exempts Small Businesses from Filing GSTR-9 for FY 2023-24

The CBIC has exempted small businesses with an aggregate turnover of up to Rs. 2 crore from filing GSTR-9 for FY 2023-24. This exemption aims to reduce the compliance burden on small businesses and streamline their GST reporting processes. Eligible businesses are not required to file the annual return, thereby simplifying their tax compliance requirements. However, businesses opting for this exemption must still fulfill other GST obligations as per the applicable laws. This move is part of the broader efforts to ease the compliance framework for smaller entities and encourage ease of doing business.