we had taken Registration in F.Y 2018-19 our turnover was 60 lakh in that year. In Fy 2019-20our turnover was 16 lakh only . and in FY 2020-21 our turnover as per our PREDICTIONS will be maximum 19 lakh.
how can we opt for cancellation 0f registration under GST.
Please quote the section number through which I can apply for cancellation of registration.
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Cancellation of registration
Replies (16)
Quick Summary
@ kartick
as evident from the datas present above I would suggest the following:
1. fy 18-19 return is mandatory.
2. fy 19-20 return is mandatory
3. fy 20-21 suggest for return
when u opted for the registration why u are opting for cancellation.
your business deals with what.
as evident from the datas present above I would suggest the following:
1. fy 18-19 return is mandatory.
2. fy 19-20 return is mandatory
3. fy 20-21 suggest for return
when u opted for the registration why u are opting for cancellation.
your business deals with what.
How in Fy 19-20 registration is mandatory
You can file all you returns and apply for cancellation. Now cancellation is also allowed where voluntary registration was taken.
It was not voluntarily registration taken . we were compulsory liable for registration under F.Y 2018-19
In both cases cancellation is allowed if the condition for mandatory registration is no longer being fulfilled.
Under which section I can opt for cancellation ,I am not getting it anywhere
Section 29 subsection 1 of CGST Act
Section 29
Section 29(1)(c) , is we see turnover of previous year or current year for determining whether we are liable for registration or not.
Current Financial Year
[c] the taxable person, other than the person registered under sub-section [3] of Section 25, is no longer liable to be registered under Section 22 or Section 24.
I think this is talking of previous year, otherwise how could we check threshold of section 22 after registration has been taken in same F.y
I think this is talking of previous year, otherwise how could we check threshold of section 22 after registration has been taken in same F.y
@ Karthik,
Section 22 of CGST Act provides compulsory registration under GST Act, if supplier's aggregate turn over exceeds 20 lacs in a financial year. And nowhere mentioned under the Act/Rule that registration is based on previous year turn over. In Central Excise / Service Tax threshold limit was there by way of SSI exemption based on turn over. Hence, in earlier tax regime, one can have SERVICE TAX REGISTRATION and also can simultaneously avails SSI exemption, if his turn over is less than 10 lakhs in previous year.
However, this procedure has been done away with under GST and threshold limit is fixed for getting registration. Once registered, he is liable for payment of tax irrespective of his turn over. Hence, the threshold limit mentioned under section 22 refers to the turn over during the current financial year only. Hence, you are entitled to apply for cancellation under section 29(1)(c).
For applying cancellation under section my question is how can we see the turnover of current f.y .
if possible can we discuss on call my contact number is 9001717333
if possible can we discuss on call my contact number is 9001717333
There is a flaw while drafting the law as they didn't specify which FY. But if only FY is written it always means current FY
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