Punjab exempts businesses with turnover up to Rs. 2 crore from filing annual return for FY 2022-23 under GST Act 2017.

The Government of Punjab's Department of Excise and Taxation has issued a notification exempting registered persons with an aggregate turnover of up to two crore rupees in the financial year 2022-23 from filing an annual return for that year. This exemption is made under the authority of the Punjab Goods and Services Tax Act, 2017, and is effective retroactively from July 31, 2023. The exemption was recommended by the Council and formalized by the Commissioner of State Tax, Punjab.

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