Cancellation of registration procesure

This discussion addresses the process of cancelling GST registration when a business has no stock or tax liability, except for a commercial vehicle. It clarifies that after GST cancellation, the vehicle can be retained for personal use or sold. However, it also raises the point about potential income tax implications, advising that if the vehicle is treated as a fixed asset, its use can continue as usual. The expert also notes that depreciation can be claimed on the vehicle if business activities continue, even after GST number cancellation.