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GST Registration Cancellation

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

  1. Reason form cancellation along with contact number and email address
  2. Desired date of cancellation
  3. Information about stock of inputs, semi-finished goods, finished goods
  4. In case ofmerger, amalgamation or transfer information about the new entity registration is required.
  5. The latest GST return filed by the taxpayer along with the ARN of the particular return.

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    FAQs

    Is it mandatory to opt for monthly GST filing? Is there any penalty for not filing it?
    Yes, it is mandatory to file Post GST compliance. Penalties are levied each day of non- filing.
    What are the GST rates in India?
    The GST rate will depend on the type of goods and services. Currently, the slab rates are 5%, 12%, 18% and 28%. Gold and rough diamonds do not currently fall under GST and will be taxed at 3% and 0.25%.
    How to file GST returns?
    After doing a thorough GST accounting a return is filed. Different GST return has different due dates to follow.
    How often do we need to file GST returns?
    Once you register for GST there is mandatory compliance (s) to follow which includes GST returns. Different GST return has different due dates to follow.
    Is GST returns eligible to be revised?
    Yes, GST returns can be revised. Businesses that have our GST team in assisting get an exceptional advantage of proceeding further in it.
    What details are to be submitted while filing GST returns?
    The only information needed here is the information related to sales and purchases during the month. After doing a thorough GST accounting a return is filed.
    Does the GST certificate require renewal?
    Only GST certificate issued to non-resident taxable person and casual taxable person have a validity period. However, to others it is valid under cancelled or surrendered.
    Can we claim a GST refund?
    Yes, DealTax will provide an end to end assistance for claiming a GST refund if applicable.