Cancelling GST registration will set the person or business free from any added responsibility. Thus the collection of GST and filing returns will no longer concern him.
Who can cancel the GST registration?
GST can be cancelled by GST or the tax payer.
Possible reasons of canceling a GST registration
When a GST officer cancels it due to:
- Non filing of GST returns consecutively for 6 months
- Violates of GST Act while issuing bills or charging GST.
- Incorrect information submission.
However, before cancellation of registration, the officer would issue a notice and the tax payer requires a show from his side in case of a re addressal else the verdict will be taken as cancelled.
When a GST registered person voluntarily cancels it due to:
- Discontinuity of the business
- Transfer, amalgamation, demerge, merger.
- If the type of company changes (For example- Private limited company has changed to a public limited company)
How to apply for GST cancellation
Please note that before applying for GST cancellation the applicant must complete all the post compliance i.e. his GST account must be up-to date. Following are the details required to be given at the time of cancellation request
- Reason form cancellation along with contact number and email address
- Desired date of cancellation
- Information about stock of inputs, semi-finished goods, finished goods
- In case ofmerger, amalgamation or transfer information about the new entity registration is required.
- The latest GST return filed by the taxpayer along with the ARN of the particular return.