Closure of Pvt company when GSTN is already cancelled

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This discussion outlines the process for closing a private limited company whose GSTN was cancelled due to inactivity. Key steps involve settling all outstanding tax returns, interest, penalties, and filing a final GSTR10 return. The company can then explore the 'Fast Track Exit Scheme' under the Companies Act, 2013, for a streamlined closure.

RP Mohanty

RP Mohanty (Querist)

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)

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)

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 https://www.mca.gov.in/MinistryV2/fasttrackexitmode.html

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