Cancellation of registration procesure

P MURUGAN (ACCOUNTANT) (175 Points)

26 September 2023

We applied for cancellation of GST registration with no stock and no tax liabilty except one commercial vehicle for which no input tax credit taken was available on us. Now my question is what about the commercial vehicle now in our hand?.

Reply
Follow
Share

6 Replies

Eswar Reddy S (CFO- at NHTF) (58002 Points)
Replied 27 September 2023

Is business closed ?

What is the purpose of cancelling GST registration?

1 Like

P MURUGAN (ACCOUNTANT) (175 Points)
Replied 27 September 2023

Yes sir. business closed., No sales and purchase for the last three months, nil return filed.

Eswar Reddy S (CFO- at NHTF) (58002 Points)
Replied 27 September 2023

If it is proprietorship business then you may retain the commercial vehicle for personal use or you may sell it

1 Like

RAJA P M ("Do the Right Thing...!!!") (121796 Points)
Replied 27 September 2023

@ P Murugan,

As per Your query and reply...

No more issues in GST. You can use the vehicle as per Your way...

But,
What about income tax view...??

If You are shown the same as FA then You may practice as usual...

1 Like

sabyasachi mukherjee (22767 Points)
Replied 28 September 2023

Cancellation of gst registration.

sparsh wadhwa (Tax Preparation service) (1363 Points)
Replied 03 October 2023

You can claim depreciation on vehicle if you are contuining your business only GST number is cancelled. To discuss in detail you can contact me 9024 nintyone 5488. Thanks