I am currently working as a freelance marketing consultant from the past 3 years and am filing ITR 4 accordingly. I am mostly working for clients outside india and receiving the payment from outside India in USD in my bank account. I had not applied for any GST as i thought it might not be applicable for me because i do not charge any service tax to my clients.
Last year in 2018, i decided to start another firm related to real estate and decided to invest some money for investment purposes and also applied for the GST number accordingly. But unfortunately i did not do anything because of the time constraints. There are few bank account transactions in the company account which are mostly internal. No invoice has been ever raised to any customer or vendor.
Now my questions is can i surrender the GST back to government as i no longer want to continue with the newly opened firm? Also since i did not do any business on the company account, i did not file any GST return as well.
Will this impact my freelancing business as well? I am so confused.
Pravin
CAclubindia
