Quick Answer: Can I Close My GST Account?

Can I surrender GST registration?

GST Registration can be surrender or cancelled through the following three ways: 1.

GST surrender By the registered person – A registered person can apply for cancellation of GST Registration by himself..

What is the maximum penalty for GST?

An offender not paying tax or making short payments must pay a penalty of 10% of the tax amount due subject to a minimum of Rs. 10,000. Consider — in case tax has not been paid or a short payment is made, a minimum penalty of Rs 10,000 has to be paid. The maximum penalty is 10% of the tax unpaid.

What if GST return not filed for 6 months?

According to sources, PK Dash, Chairman, CBIC, expressed his displeasure in the progress of cancellation of registration of non-filers who have not filed GSTR 3B (showing tax payments) returns for six or more than six return periods and are liable to action under GST law.

Who needs Gstr 10?

The Goods and Services Tax Return 10 is a one time document/statement that has to be filed by a registered taxpayer whenever they cancel their GST registration or at the time of closing down a business (either voluntarily or because of a government order).

Is Gstr 10 mandatory?

GSTR 10 is required to be filed only by the persons whose registration under GST has been cancelled or surrendered. The the regular persons registered under GST are not required to file this return.

Can I surrender my GST number?

Central Tax Authority will cancel the GSTIN issued to the taxpayer by the Cancellation of GST Registration. … A registered person who is having a GST registration can surrender GSTIN number by filing a return in the form of GSTR-10. This return is called a final return.

Can we file GST return after cancellation?

Ans: Please note that, when GST is cancelled then you have to file GST Final Return within 3 months of GST Cancellation, in which you have to provide detail of Stock in hand and input availed on that and has to pay GST Liability before filing of final return.

What happens if GST number is Cancelled?

Cancellation of GST registration means that the Central Tax Authority cancels the GSTIN issued to a taxpayer registered under GST initially. Such a cancellation would mean that the taxpayer whose GSTIN is canceled would no longer be a registered person under GST.

How do I cancel my GST refund?

Procedure to apply for GST No. Cancellation- For registered persons who have not issued any tax invoice.Login to GST portal “www.gst.gov.in”Go to Services> Registration> Application for Cancellation of Registration.Enter the details asked for in the application including the reason for cancellation.More items…•

Is there GST on cancellation fees?

CRA confirms that there is no GST/HST on a fee charged for the cancellation of an exempt supply agreement. Although there is no general rule that deems a fee charged for the cancellation of an agreement to make an exempt supply to also be consideration for an exempt supply, this is not a problem.

What if Gstr 10 is not filed?

If the taxpayer fails to respond to the tax notice or does not file the GSTR-10 return, then the tax officer would pass the final order of cancellation with the amount of GST tax payable along with interest or penalty.