Goods and Service Tax

GST Registration Cancellation

GST Registration Cancellation

  • Overview
  • Points to remember
  • Process

GST Registration Cancellation

Most persons or entities who supply goods and/or services in India have a GST registration. After obtaining GST registration, sometimes a GST registration may need to be canceled. Some of the most common reasons for cancellation of GST registration are the closure of business, no requirement to pay GST, transfer of business, change in the constitution, and no business activity. Surrendering a GST registration will reduce the compliance requirement for the taxpayer, as GST returns would no longer have to be filed monthly. To cancel a GST registration, the application must be submitted on the GST Common Portal in FORM GST REG-16 along with the required information. On submission of an application for cancellation of GST registration, the GST officer is required to verify the application and issue an order in FORM GST REG-19, within 30 days from the date of application.

1. How we help with cancellation of GST Registration ?

Taxcomate.com can help you cancel GST registration within 30-60 business days, subject to Government processing times.


2. Application Preparation

An Taxcomate GST Expert will prepare your GST registration cancellation application and collect the documents necessary for filing of application with the GST Department.


3. Application Filing

Once the application is prepared and verified, Taxcomate will submit the GST registration cancellation application to the GST Department along with details of Authorized Signatory.

4. ARN Generation

Once the application and the attached supporting documents are uploaded, the GST Department would allot a ARN number. An Taxcomate GST expert will track the ARN number to completion

GSTIN

The GSTIN of the business to be canceled.

Stock Details

Details of inputs held in stock or inputs contained in semi-finished or finished goods held in stock and of capital goods held in stock on the date from which cancellation of registration is sought.

Tax Liability

Details of any pending GST liability, fines, penalty, etc.

Tax Credit

Details of any GST payment, made against such liability and details of input tax credit

Lets see the process

1
2
3
4
5

Form fillup

Talk to Expert

Purchase plan

Upload documents

Task Completion

GST Registration Cancellation

₹2,499.00

To make tax compliance easier, the income tax department has categorized taxpayers into many groups based on income and its source. So, you need to file your returns accordingly. Registers with GST Registration Cancellation plan and enjoy the benefits

Benefits of GST Registration ?

  • The GST will consolidate Central Excise Duty, Service Tax, VAT, Central Sales Tax, Customs Duty, Central Surcharge & Cess, Octroi, Luxury Tax, Entertainment Tax, Purchase Tax and a few other indirect taxes. The GST will apply on all goods and services. Even petrol and petroleum products will eventually be subject to it.This would make tax collection and compliance easy for businesses across the country.

  • The GST council has decided on a four-tier structure. The GST rate will depend on the type of goods and services. Currently, the slab rates are 5%, 12%, 18% and 28%

  • Currently various businesses like restaurants, computer sales and services businesses have to deal with both VAT and Service Tax regulations resulting compliance burden on the business, as they have to calculate taxes for the transaction based on different rates for different items. With the Implementation of GST Business will be made easy

  • Since in some states under the VAT regime, businesses are required to comply with VAT regulations once they cross an annual turnover of Rs.5 lakhs. Under GST regime, GST liability occurs only if an entity crosses an annual turnover of Rs.10 lakhs in northeast or hill states, whereas for rest of India, the threshold is set at Rs.20 lakhs.