Exemption from annual GST return filing granted for small turnover taxpayers, relieving them from the filing obligation for the applicable year. Exemption from mandatory annual GST return filing is conferred prospectively from the stated financial year for registered persons whose aggregate annual turnover in that year does not exceed the prescribed threshold. The Commissioner of State Tax, under the proviso to section 44(1) and on the Council's recommendation, administratively exempts eligible taxpayers from the annual return filing obligation, applying a turnover-based waiver limited to the financial year and class of registered persons specified.