GST surrender with dues

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business
57 Points Posted on 22 December 2022
we have stopped business for 1.5 years. but we have outstanding to be received from the dealers. can we surrender the GST as we have no plans to start again.
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On 22 December 2022 at 17:56 Report
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Quick Summary
If you've stopped trading for a significant period and wish to surrender your GST registration, you can proceed even with outstanding amounts to be received from dealers. The key is to file all pending returns and settle any government dues, including late fees. Your ability to collect money from purchasers does not impact the GST cancellation process itself, but you remain liable for any GST owed to the government.

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Employee
87 Points Posted on 22 December 2022

File all the returns and pay any dues like late fee and apply for cancellation.

Outstanding dues to be received by you from your dealers has no bearing on GST cancellation as it will be your problem to collect the dues. But if you not paid GST owing to the dues you have not received, then the liability is on you to file the returns.

Pls note that this is according to my knowledge. Lets wait for other experts to answer

 

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On 22 December 2022 at 21:49
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business
57 Points Posted on 23 December 2022
Thank you
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On 23 December 2022 at 07:08
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Profession
28261 Points Posted on 24 December 2022
How can u surrender gst dues?
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On 24 December 2022 at 08:14
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business
57 Points Posted on 24 December 2022
We don't have any GST dues to Govt. But from my purchasers only. In future if any case we opt for legal battle is it possible if we surrender our GST number?
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On 24 December 2022 at 09:12

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