- PAN Card
What is GST Cancellation?
GST registration can be cancelled voluntarily if the business is dormant or does not have the necessary business turnover. Further, a GST registration can also be cancelled by a GST officer if the business is non-compliant under GST. Once GST registration is cancelled, the person or entity is no longer required to file GST returns and is not required to pay or collect GST.
Voluntary GST Cancellation.
- Discontinuance or closure of a business.
- Transfer of business, amalgamation, merger, de-merger, lease, or other pertinent reasons.
- Change in the constitution of business which results in a change of PAN.
- Turnover reduces below the threshold limit of GST registration.
- Death of the sole proprietor.
Cancellation By GST Officer.
- If a taxpayer has failed to file GST returns continuously.
- An assessee registered for GST voluntarily but did not start a business within six months.
- The registered taxpayer has broken one or more sections of the GST Act or its Rules.
- The GST registration is obtained through deception or malicious misrepresentation.
- To dodge tax or improperly claim the input tax credit, a taxpayer supplies goods or services without an invoice or produces an invoice without a provision of goods or services.
Procedure for GST Registration Cancellation.
- Contact address, which includes the mobile number and e-mail address.
- Reason for cancellation.
- The desired date of cancellation.
- 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, and the stock of capital goods/plant and machinery.
- Particulars of the latest GST return are filed by the taxpayer along with the ARN of the particular return.
Benefits of Voluntary GST Cancellation.
- Aadhar Card
- Last Return Details
- Company Authority Details
- Tax Particulars