Explain the provisions of CGST Act and rules regarding Annual Return for the financial year 2019-20.

Annual Return Every Registered person other than an Input Service Distributor (ISD), a person paying tax under section 51 or section 52 a casual taxable person shall furnish an annual return as specified under section 44 (1) of Central Goods and Services Tax Act, 2017 electronically in FORM GSTR-9. However a person paying tax under section 10 shall furnish the annual return in FORM GSTR-9A and every electronic commerce operator requires to deduct tax at source under section 52 shall furnish the annual return in FORM GSTR-9B. The due date in above cases is 31st day of December following the end of such Financial Year. As per section 44 of the Central Goods and Services Tax Act, 2017 and notifications issued thereunder. Annual return for Financial year 2019-20 was required to be filed by all registered person whose aggregate annual turnover during the year 2019-20 did not exceed two crore rupees shall have the option to furnish the annual return. In other words, filing GSTR-9 was optional for registered persons having turnover upto rupees Two Crores and mandatory for registered person having turnover above 2 crores. The last date for furnishing the Annual Return for 2019-20 was 31.03.2021. However registered Person having turnover below Rupees two crore would be deemed to have furnished their Annual Return if they fail to do so. In case of registered person whose turnover exceeds Five crores it is also mandatory to get their accounts audited under GST from a practicing Chartered Accountant or a practicing Cost and Management Accountant and to submit a copy of Audited Annual Accounts and a reconciliation statement duly certified in FORM GSTR-9C for the financial year 2019-20.