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Cancellation of GST Registration on Closure of the Busines

Manish (Accountant) (250 Points)

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.

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4 Replies

CA Altamush Zafar (GST Consultant) (15907 Points)
Replied 25 May 2021

Yes you can but keep filing nil returns till then.

1 Like

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 25 May 2021

Yes cancellation can be done

Sivaramaraju G (Learner) (2398 Points)
Replied 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.