GST Registration Cancellation
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GST Registration Cancellation
An individual, organization, company or a firm can cancel its GST registration as per the given condition. Cancellation of GST registration means that the GST number allotted by the Central Tax Authority is canceled. After which the taxpayer does not have to pay any kind of goods and services. Further, there are certain businesses where registration under GST is necessary. Therefore, if a business continues to function despite the GST cancellation, it would be liable to pay a heavy penalty for the same.
Reason for GST Cancellation
- The death of the proprietor, transfer of business in form amalgamation, demerger.
- Change in constitution of business
- GST registered person is not mandatorily, liable to get registered under GST.
- The turnover of business goes below the threshold limit
- When GST registered person contravenes the provisions of the ACT.
- When GST registered does not file his GST return
- When GST registration has been obtained by means of fraud willful misstatement or suppression of facts.
- When a person takes voluntary GST registration and after registered under GST does not commence business within 6 months from the date of GST registration, then GST officer has the power to cancel the GST registration.
Required information for GST registration cancellation
The following information must be mandatorily specified by the applicant while applying for cancellation in form GST- REG- 1
- Contact address, which includes the mobile number and e-mail address.
- Ground of cancellation
- The desired date of cancellation
- Details of registration of the entity if the existing unit merged, amalgamated, or transferred
- Particulars of the latest return filed by the taxpayer along with the ARN of the particular return
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Frequently Asked Questions
GST registration cancellation refers to the process of terminating the GST registration of a taxpayer. Once canceled, the taxpayer is no longer required to file GST returns and can no longer collect GST from customers.
- The taxpayer themselves
- The GST officer
- The legal heirs, in case of the death of the taxpayer
- Business discontinuation
- Change in the constitution of the business
- The taxpayer is no longer liable to be registered under GST
- Voluntary cancellation by the taxpayer
- Transfer of business ownership
- Log in to the GST portal.
- Navigate to the ‘Services’ tab and select ‘Registration’.
- Choose ‘Application for Cancellation of Registration’.
- Fill in the necessary details and submit the application
- A copy of the last GST return filed
- Declaration of stocks held on the date of cancellation
- Details of input tax credit (ITC) on the date of cancellation
- Any other relevant documents
