banner_ad

Cancellation of registeation

268 views 5 replies
User Avatar

student
112 Points Posted on 26 July 2020
are we reqiured to pay gst on closing stock on cancellation of registration, and we do not have any input left on portal,are we required to pay gst in cash before cancellation
Reply Share Follow
On 26 July 2020 at 13:40 Report
Replies (5)
User Avatar

Tax and Business Consultant
11616 Points Posted on 26 July 2020
Yes, You are required to pay GST on closing stock as well as capital goods for which credit is taken at time of purchase.
If there is no input tax credit left in your ITC ledger that you have to pay tax in cash before cancellation.
66 Reply
On 26 July 2020 at 14:13
User Avatar

1102 Points Posted on 26 July 2020
Yes, on cancellation of registration whichever assets you have is considered as deemed supply
because on these assets you have taken ITC earlier and on those ITC is not taken then it will not consider as supply
As on cancellation, closing stock will consider as deemed supply and have to pay tax
1 Reply
On 26 July 2020 at 14:19
User Avatar

1313 Points Posted on 26 July 2020
Yes. you are required to pay GST on closing stock before cancellation of registration.
1 Reply
On 26 July 2020 at 16:30
User Avatar

student
112 Points Posted on 27 July 2020
If the closing stock contains both ,purchased from urd party and purchased from registered party,are we reqiured to pay gst on whole closing stock,remember we have not taken any itc for urd purchase
Reply
On 27 July 2020 at 06:48
User Avatar

Tax and Business Consultant
11616 Points Posted on 27 July 2020

You have required to pay GST on closing stock which you was purchased from registered person and ITC is already taken in GSTR 3B.
You are not required to pay GST on purchase from URD party.

66 Reply
On 27 July 2020 at 10:30


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading

Latest Job Openings

View all
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details