Cancellation of GST Registration

A registered gst dealer, having the total sale during any financial year, less than Rs. 4000000/-, and thus want to surrender his registration. He wants to continue the business as well. Please guide him the relevent procedure.
Replies (5)
Quick Summary
If your total sales in a financial year are less than Rs. 40 lakhs and you wish to cancel your GST registration while continuing your business, you need to follow a specific procedure. This involves applying for cancellation using Form GST REG-16, ensuring all prior returns are filed and tax liabilities are cleared. After receiving the cancellation order, you must file a final return (GSTR-10) within three months, which includes reversing any accumulated Input Tax Credit (ITC).

File application for cancellation of registration.. once department issues order for cancellation you will be liable to file GsTr-10 in which you will be required to reverse the accumulated ITC
Just file for cancellation stating the reason....
ensure to file GSTR10 withi 3 Months from Receiving Cancellation Order.....
and Reverse or Pay ITC Amt in GSTR10.
File Application for Cancellation of GST Registration in FORM GST REG-16 stating your applicable reason for cancellation.

Just ensure that you have filed all your GST Returns and Statements and have no pending Tax liabilities with the department. Only then you can proceed to file FORM GST REG-16.

And after receiving Cancellation Order ( FORM GST REG-19 ) from the Department, file your FORM GSTR-10 i.e. FINAL RETURN within 3 months from receiving Cancellation Order.

Regards,
Shivam RC.
Thanks & regards
Your Most Welcome Dalip Sir...

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