One of my friend wants to close his GST number as he is closing his business want to know procedure also wants to know Whether he can claim input credit which is lying in his account as it amount more than 35000 plz help
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Gst closure
Replies (5)
- Application for cancellation has to be made in FORM GST REG 16.
- The following details must be included in FORM GST REG 16-
- Details of inputs, semi-finished, finished goods held in stock on the date on which cancellation of registration is applied
- Liability thereon
- Details of the payment
- The proper officer has to issue an order for cancellation in FORM GST REG-19 within 30 days from date of application. The cancellation will be effective from a date determined by the officer and he will notify the taxable person
- Read rules no 20,21,22 of the CGST rules 2017
whether physical or online?
Yes its online
& the balance in credit ledger cannot be withdeaw. it will setoff against ur stock
& the balance in credit ledger cannot be withdeaw. it will setoff against ur stock
THERE IS NO STOCK NOW HE SOLD ON LOSS
even though he cannot take refund from his credit ledger ,... setoff by showing exp. to P&L
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