Closure of Pvt company when GSTN is already cancelled

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RP Mohanty (Querist)
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31 October 2020 SirThere is a Pvt company whose GSTN is cancelled suo-moto during 2019, since its business is not running. They want to close the company now. What should be the procedure for company closure in connection with GSTN & its implications.

Lekhraj sood

Lekhraj sood (Expert)
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31 October 2020 You have to file all your pending returns and pay taxes along with interest, late fee and penalties.You also need to file Final return in GSTR10.

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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31 October 2020 Then the company can seek 'Fast track Exist Scheme' to close the company under Companies Act,2013. For details, please see the link http://www.mca.gov.in/MinistryV2/fasttrackexitmode.html

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