We can help you fulfil all the formalities for GST cancellation and surrendering of your GST certificate.
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WHEN IS LEGAL GST CANCELLATION INDIA ENFORCED?
Non-filing of GST Returns
If a registered person under the regular scheme has not filed GST Returns for 6 months in a row.
Filing of Composite GST Returns
If a registered person under the composite scheme has not filed GST Returns for 3 months in a row.
No business activity
If anyone has opted for GST registration under the business name but has not begun any trade in the 6 months since the date of registration.
Unlawful GST Registration
If anyone has registered under GST through deceptive means, his GST Certificate will be cancelled immediately with retrospective effect.
Non-payment of GST.
In case any GST tax evasion is found out from the taxpayer’s side, his GST Certificate will be cancelled as a suitable legal action.
Flout of norms
GST registrant has violated any rules or provisions as, under CGST Act 2017, he will be subject to statutory GST cancellation.
WHEN DO WE OPT FOR GST CANCELLATION?
There are certain circumstances that may compel a taxpayer to opt for a surrender of GST registration. Given below are some of the cases where a tax assessee may opt for GST cancellation procedure:
- An accidental GST registration, that can cause unnecessary GST liability.
- If the turnover of an individual is below ₹20 lakhs, and he has registered under GST, he can opt for GST cancellation.
- Dissolution or amalgamation of business, GST cancellation procedure is a must to avoid getting tax notices from the government.
- Suppose government raises the threshold for GST registration, and you get out from its cover, you can opt for GST cancellation India.
- In case of a take-over bid, surrender of GST registration is a must or the GST tax liability will continue to arise under the previous owner’s name.
GST CANCELLATION STATUS AFTER 28TH GST MEET
At the 28th GST meeting, the government has changed GST cancellation procedure. Henceforth, the GST certificate shall be suspended immediately after the application for surrender of GST registration. Thus, no GST liability shall arise once you have applied for cancellation of GST registration.