Surrender GST
This query is : Resolved
21 May 2025
How Can I surrender GST no. for my prop. Firm while I am having CC limit with bank.
22 May 2025
Generally not eligible, as banks insist on an active GST number, you may need to retain it or negotiate alternative arrangements.
23 May 2025
File nil return up to Bank1. Understand the Implication of GST Cancellation
Before proceeding, be aware that:
GST cancellation means you cannot continue business activities requiring GST registration, like issuing taxable invoices or claiming input tax credit.
Your bank may require a valid GSTIN as part of its ongoing compliance for maintaining a CC limit.
2. Inform and Get NOC from the Bank
Since you have a CC limit:
Inform your bank manager in writing about your intention to surrender the GST number.
Request a No Objection Certificate (NOC) or written confirmation that surrendering GST will not affect your CC facility (if that's the case).
Banks typically require you to have:
A running business
Financial records including GST returns
If you're closing the business or shifting to another form (e.g., composition scheme or different PAN), this must be clarified.
3. File for GST Cancellation on GST Portal
Once the bank consents or confirms no issue, follow these steps:
Step-by-Step:
Login to GST portal: https://www.gst.gov.in
Go to Services > Registration > Application for Cancellation of Registration
Fill the form:
Reason for cancellation (e.g., closure of business, transfer, etc.)
Date of cessation of business
Upload supporting documents (NOC from bank, if needed)
File the application using DSC or EVC
4. File Final GST Return (GSTR-10)
After cancellation is approved:
You need to file GSTR-10 (Final Return) within 3 months from the date of cancellation.
This is to provide a closing summary of GST liabilities.
5. Update Other Registrations and Records
Update cancellation details in:
Bank records (to avoid compliance mismatch)
Income Tax filings
Udyam/MSME portal (if registered)
Local authorities, if any
Limit end.
Before proceeding, be aware that:
GST cancellation means you cannot continue business activities requiring GST registration, like issuing taxable invoices or claiming input tax credit.
Your bank may require a valid GSTIN as part of its ongoing compliance for maintaining a CC limit.
2. Inform and Get NOC from the Bank
Since you have a CC limit:
Inform your bank manager in writing about your intention to surrender the GST number.
Request a No Objection Certificate (NOC) or written confirmation that surrendering GST will not affect your CC facility (if that's the case).
Banks typically require you to have:
A running business
Financial records including GST returns
If you're closing the business or shifting to another form (e.g., composition scheme or different PAN), this must be clarified.
3. File for GST Cancellation on GST Portal
Once the bank consents or confirms no issue, follow these steps:
Step-by-Step:
Login to GST portal: https://www.gst.gov.in
Go to Services > Registration > Application for Cancellation of Registration
Fill the form:
Reason for cancellation (e.g., closure of business, transfer, etc.)
Date of cessation of business
Upload supporting documents (NOC from bank, if needed)
File the application using DSC or EVC
4. File Final GST Return (GSTR-10)
After cancellation is approved:
You need to file GSTR-10 (Final Return) within 3 months from the date of cancellation.
This is to provide a closing summary of GST liabilities.
5. Update Other Registrations and Records
Update cancellation details in:
Bank records (to avoid compliance mismatch)
Income Tax filings
Udyam/MSME portal (if registered)
Local authorities, if any
Limit end.
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