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GST CANCELLATION
GST CANCELLATION
Cancellation of GST registration simply means that the taxpayer will not be a GST registered person any more. He will not have to pay or collect GST. There will be no requirement of furnishing any GST return. In case you want to cancel your GST registration because GST does not apply to you or because you are shutting down your business or profession. Or there is some other valid reason which you want to cancel your GST registration.
Why does a taxpayer wish to cancel his registration ? :
- The business has been discontinued.
- The business has been transferred fully, amalgamated, demerged, or otherwise disposed
- There is a change in the constitution of the business (For example- A private limited company has changed to a public limited company).
Why will the officer cancel registration? (Suo Moto Cancellation)
Suo Moto Cancellation of GST Registration means cancellation of registration by GST Officer on its own. There must be a valid reason for initiation of proceeding for Suo moto cancellation as specified under Section 29(2) of the CGST/SGST Act.
The registration can be canceled, if the taxpayer-
- Do not conduct any business from the declared place of business.
- Issues invoice or bill without supply of goods/services (i.e., in violation of the provisions)
- Violates the anti-profiteering provisions (for example, not passing on the benefit of ITC to customers)
If the proper officer has reasons to cancel the registration of a person then he will send a show-cause notice to such person in FORM GST REG-17.
Application for revocation cannot be filed if the registration has been canceled because of the failure to file returns. Such returns must be furnished first along with payment of all dues amounts of tax, interest & penalty.
Time duration
It can take up to 4-6 working days in order to GST Cancellation. (Subject to the jurisprudence of proper officer)
Cost involved
Get your GST Cancellation on 999/- Only
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