GST Registration Cancellation

GST Registration Cancellation refers to the process of surrendering the GST registration obtained by a business entity.

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Eligibility

Any business or entity that is registered under the Goods and Services Tax (GST) system can apply for GST registration cancellation. However, there are certain conditions that need to be met before applying for GST registration cancellation

Document Required

  • A copy of PAN card

  •  A copy of Cancelled cheque

  • GST registration certificate

  • A letter explaining the reason for cancellation

Benefits

  • Reduced Compliance Burden

  • No Liability for Tax Payment

  • No Need to File GST Returns

  • Closure of Business

  • Clarity on Tax Liabilities

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If you’re looking for a financial services company that is dedicated to helping you achieve your financial goals, look no further than Xtraserve. Contact us today to schedule a consultation and learn more about how we can help you. With our wide range of services and convenient office locations, we are confident in our ability to provide you with the best financial solutions for your needs.

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FAQ

What is GST Registration Cancellation?

GST Registration Cancellation refers to the process of surrendering the GST registration obtained by a business entity.

How to cancel GST registration in India?

To cancel GST registration, one needs to file the application for cancellation (FORM GST REG-16) through the GST portal.

Is it mandatory to cancel GST registration?

No, it’s not mandatory to cancel GST registration if a business entity is not conducting any taxable activities.

What happens if I don't cancel my GST registration?

If a business entity does not cancel its GST registration even after discontinuing the business activities, it will be liable to pay taxes on estimated turnover and attract penalties and fines.

How long does it take to cancel GST registration?

The process of GST registration cancellation can take up to 7-15 working days.

Can I cancel GST registration for specific branches/units?

No, GST registration cannot be cancelled for specific branches/units. The cancellation process is applicable for the entire GSTIN.

What are the documents required for GST Registration Cancellation?

The following documents are required for GST Registration Cancellation:

• A copy of PAN card

• A copy of Cancelled cheque

• GST registration certificate

• A letter explaining the reason for cancellation

Can I cancel my GST registration if I have pending taxes?

No, you cannot cancel your GST registration if you have pending taxes.

What is the impact of GST registration cancellation on input tax credit?

The GST registration cancellation will result in the forfeiture of the unutilized input tax credit.

Is there any fee for GST Registration Cancellation?

No, there is no fee for GST registration cancellation.

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