GST late filling fees

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This query is : Resolved

Quick Summary

If you wish to cancel your GST registration, you must first file all pending returns, including those for periods where no business activity occurred. This will incur late filing penalties and interest. Any input tax credit available needs to be reversed by paying the amount, either in cash or by adjusting it against sales. You cannot use this input credit after the cancellation process begins.

Madhu M

Madhu M (Querist)
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29 August 2020 Hi sir, Query : GST cancellation process

I have Taken GST Registration on 07/09/2019 & till now I Have not Done any monthly Returns and Now i want Cancel my GST Registration.. But there is some around 20000/- Input Available in fy 2019-20 ...What to do sir ???? please Tell me the cancellation process & total Penalty ,Interest , late filing fee & is there any cancellation charges ...??? please do the needful sir Thanks in Advance
Madhu M

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)
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30 August 2020 You should have filled NIL Returns. Now you have to file all pending return with late panelty and thereafter apply for GST Cancellation

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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01 September 2020 You have to reverse the input credit available in your credit ledger by paying the same either through cash or by adjusting it in your sale.

Madhu M

Madhu M (Querist)
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01 September 2020 Thank you sir ...can i use That ITC ...now sir ????

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