Change in constitution of business

This query is : Resolved

Faris Jalali (Querist)
Follow

22 February 2020 we had cancelled out gstin due to change in constitution of business and issued a new gstin for the new pan, we were holding stock on the day of cancellation of old gstin, we dont want to reverse the tax help but to give that tax credit to the new gstin, do i need to bill the new gstin and nill my stock for gstr 10 and if so, what would be late fees and penaly as the old gstin was cancelled on 1st july 2018. can i bill it now in back date, please advice

CA Anita Bhadra

CA Anita Bhadra (Expert)
Follow

23 February 2020 It is mandatory to pay the input tax contained in stock by filing GSTR 10 within 3 months of the date of cancellation.

Lat fee is Rs 200/ per day and interes for excess ITC claimed ( not reversed ) is 24%

CA Anita Bhadra

CA Anita Bhadra (Expert)
Follow

23 February 2020 Billing in backdate is not advisable.

Faris Jalali

Faris Jalali (Querist)
Follow

24 February 2020 i have stock held for the old gstin and would like to give the tax credit to the new gstin and show nil stock in gstr 10, old gstin was cancelled in july 2018

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

UPENDRAN YADAV

ramesh kumar

Ashutosh Purohit

MUNISH KUMAR

efiletax

Subscribe Now

Change in constitution of business

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA