GST cancellation

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116 Points Posted on 16 June 2020
A composition dealer, not attaining the threshold amount of sale of 40 lakhs annually, and therefore wish to surrender the GST Number. He also wants to continue the business. please guide.
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On 16 June 2020 at 15:09 Report
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A composition dealer earning less than 40 lakhs annually wishes to surrender their GST number but continue their business. However, current regulations (Section 22 and Notification 10/2019 CT) state that the threshold for goods-only suppliers is 40 lakhs, meaning they cannot surrender their GSTN for this reason. Further clarification is sought on this matter.

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4215 Points Posted on 16 June 2020
If you have to cancel the RC you can do so before that you may check your all returns once again
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On 16 June 2020 at 15:50
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GST Practitioner
55067 Points Posted on 17 June 2020
No.... you cannot as per Section 22, R/w Notification 10/2019 CT the threshold limit to obtain Registration in case of person engaged in Exclusively supply of Goods is 40 lac .
Therefore you cannot surrender your GSTN on said Reason.
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On 17 June 2020 at 00:39
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116 Points Posted on 19 June 2020
Not yet clear sir, please elaborate
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On 19 June 2020 at 17:45

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