What is the meaning of GST Cancellation.?
GST cancellation is a situation where
- a register person surrender his registration no. or
- officer cancel the registration of a person
How can a person surrender his Registration.?
Who can file for Cancellation of Registration?
Cancellation of Registration can be filed by:-
- Registered person
- in case of death - Legal heirs of such person
What are situation in which a person can surrender his registration no..?
A person can apply for surrender his GST Registration in following circumstances where:
a. the business has been discontinued, transferred fully for any reason including death of the proprietor, amalgamated with other legal entity, demerged or otherwise disposed of; or
b. there is any change in the constitution of the business; or
c. the taxable person is no longer liable to be registered under section 22 or section 24 or intends to opt out of the registration voluntarily made under sub-section (3) of section 25.
What are situation where assessing office cancel the registration whithout any application received from registered person.?
Assessing officer may cancel the registration of a person from such date, including any retrospective date, as he may deem fit, where,––
a. a registered person has contravened such provisions of the Act or the rules made thereunder as may be prescribed; or
b. a person paying tax under section 10 has not furnished returns for three consecutive tax periods; or
c. any registered person, other than a person specified in clause (b), has not furnished returns for a continuous period of six months; or
d. any person who has taken voluntary registration under sub-section (3) of section 25 has not commenced business within six months from the date of registration; or
e. registration has been obtained by means of fraud, wilful misstatement or suppression of facts
What is the cost of cancellation of Registration.?
What is the impact of cancellation of GST Registration.?
Every registered person whose registration is cancelled shall pay an amount, by way of debit in the electronic credit ledger or electronic cash ledger, equivalent to the credit of input tax in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock or capital goods or plant and machinery on the day immediately preceding the date of such cancellation or the output tax payable on such goods, whichever is higher.
How many days it will take to cancel GST registration?
As per GST act, the proper officer shall issue an order in FORM GST REG-19, within a period of thirty days from the date of application submitted.
What is the meaning of Revocation of GST Registration.?
Revocation of GST Registration situation where a person whose registration was cancelled by assessing office restore the same after receiving and verify the documents.
What is the time limit for filing application for revocation of GST Registration.?
A person, whose registration is cancelled by the proper officer on his own motion, may apply to such officer for revocation of cancellation of the registration in the prescribed manner within thirty days from the date of service of the cancellation order.
How many days it will take to revoke GST registration?
Where the proper officer is satisfied, for reasons to be recorded in writing, that there are sufficient grounds for revocation of cancellation of registration, he shall revoke the cancellation of registration by an order in FORM GST REG-22 within a period of thirty days from the date of the receipt of the application and communicate the same to the applicant.