GST Cancellation
Planning to Surrender your GSTIN or Shutting down your loss making Business or Wanna start afresh ?
GST Registration Cancellation
In case you want to cancel your GST Registration because GST does not apply to you or you are shutting your business down or due to some other reasons. Then, you have to surrender your GST registration and clear all dues.
In case of GST cancellation you need the utmost support & We at Investax India will help you get through the entire process of cancellation.
Who can cancel a GST registration?
GST Registration can be cancelled voluntarily by the GST Registration holder or suo motu cancellation by the GST Officer.
Suo motu Cancellation by an Officer
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A taxable person under GST does not conduct his/her business from the principal place of business or upon field visit by GST officer principal place of business found to be non existent,
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Issue bill or invoice without supply of goods and/or services,
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A GST Registration holder does not file GST returns for six consecutive months.
Before the cancellation, the officer would send a Show Cause Notice to the GST registered person to show cause as to why your GST registration should not be cancelled and GST Registered person can reply to the show cause notice within a prescribed time given in the notice usually 7 days.
Voluntarily cancellation by the registered person
Under section 29 of the CGST Act, a person can voluntarily cancel its GST Registration in the following circumstances:
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Change in the constitution of business, which results in a change of PAN..
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Transfer of business, amalgamation, merger, de-merger, lease or other pertinent reasons.
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Discontinuance or closure of a business.
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Death of the sole proprietor.
- Any other reason.
Before applying for GST Cancellation, the registered person has to file all the pending GST returns and clear all dues then file Final GST return GSTR 10.
Applying for GST Cancellation
An application for GST Cancellation should be made in Form REG-16 on GST Portal. Following information should be provided for the GST Cancellation:
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Contact Address which should include mobile number and email address,
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Desired date of Cancellation,
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Particulars of the value and the tax payable on the stock of inputs, the inputs available in semi-finished goods, inputs available in finished goods, the stock of capital goods/plant and machinery,
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Particulars of registration of the entity wherein the existing unit have been merged, amalgamated, or transferred,
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Particulars of the latest GST return filed by the taxpayer along with the ARN.
Our experts at Investax India will help you in the entire process of cancellation.