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Cancellation of registeation
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
Replies (5)
Quick Summary
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.
If there is no input tax credit left in your ITC ledger that you have to pay tax in cash before cancellation.
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
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
Yes. you are required to pay GST on closing stock before cancellation of registration.
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
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.
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