Gst Cancelation

Hi everyone. One of my client is having textile retail business and he has taken Composition scheme. He had closed his business in Jan 2020. There are stock Leying with him. While canceling his registration whether he need to pay tax on stock? What are the docs. required in order to cancel the Registration?
Replies (5)
Quick Summary
This discussion addresses the process of cancelling GST registration for a textile retail business operating under the Composition Scheme. Key questions revolve around whether tax is payable on stock held at the time of business closure and the necessary documentation for cancellation. While there's some initial confusion, the consensus is that tax on stock is generally not required, and the focus shifts to applying for cancellation and filing the final GST return (GSTR-10), though composite dealers may have specific exemptions.

Hi,

Yes tax needs to be paid

you need to apply for cancellation and on approval file the final GST return

Thanks,
Mohit
8335093446
No..... not required to pay tax on stock
Sir I am having confusion, sir please provide me any circular?

You can apply for cancellation of GST Reg. 

No further tax paymenthas to be made. After the cancellation is approved, file GSTR 10 final return 

Composit dealer are not required to GSTR 10

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