Exemption from annual return relieves eligible registered persons from filing obligations where turnover falls below the statutory threshold for the year. Exemption from annual return filing is granted to registered persons whose aggregate turnover for the financial year 2021-22 falls at or below the prescribed turnover threshold; the Principal Commissioner of State Tax, on Council recommendation, issued a notification exempting such persons from filing the annual return for that year, with the notification deemed effective from an earlier specified date.