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Cancellation of GST Registration on Closure of the Busines

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Manish

Accountant

251 Points Posted on 25 May 2021

Dear All

Due to closure of the business, an assessee wish to surrender its GST Registration. Is there any time limit to surrender the same or it can be surrender after 2-3 months. as well. For Example, if business was closed on 31.03.2021, surrender can be applied in 2-3 June as well or not. Is it liable for any penalty due to late filing or not. Please confirm.

Thanks in Advance.

Replies (4)

Quick Summary

If you've closed your business, you can surrender your GST registration, even a few months after closure. It's important to continue filing nil returns until the surrender is processed. Remember, you must also file a final GSTR-10 return within three months of the cancellation date.

CA Altamush Zafar

GST Consultant

15986 Points Posted on 25 May 2021

Yes you can but keep filing nil returns till then.

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 25 May 2021

Yes cancellation can be done

Sivaramaraju G

Learner

2398 Points Posted on 25 May 2021

Agree with Altamush.

A taxpayer whose GST registration has either been cancelled or surrendered is required to file GSTR-10. it is a statement of stocks held by such taxpayers on the day immediately preceding the date of cancellation. It is a one-time final return. It should be filed within three months from the date of cancellation or the date of the cancellation order, whichever is earlier.