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Cancellation of GST registration of composition scheme dealer
I want know online procedures of cancellation of GST registration of composition dealer. I have doubt that whether dealer is required to pay tax on stock held on cancellation date? Second if his current year(2019-20) turnover is 42 lacs then can he opt for surrender of GST registration on basis of his expected turnover will be less then 40lacs in FY 2020-21.plz solve my doubt if possible quote sections and rules also
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Google search > bos knowledge portal icai >final>paper8> study material for may 2020>study material> chapter 9 registration> page9.65 and 9.66
you need to reverse the ITC which you took on stock held on date.
you need to reverse the ITC which you took on stock held on date.
No you can not opt for cancellation of gst as you have already crossed the maximum limit.... surrender of GST number is not merely based on your expectations..
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