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Input credit at the time of cancellation
I want to cancel my gst registration from December and i have input crrdit of 400000 in my credit ledger What to do this input? and can i cancel my registration?
Replies (2)
Quick Summary
What to do this input?
- The balance ITC will be reversible at the time of cancellation of registration.
and can i cancel my registration?
- Yes... You can cancel Your registration. But, Before that settle Your all liabilities.
- The balance ITC will be reversible at the time of cancellation of registration.
and can i cancel my registration?
- Yes... You can cancel Your registration. But, Before that settle Your all liabilities.
Yes the Input lying in credit ledger will get lapse. if you are having any stock on date of cancellation you need to pay GST on same or your can adjust input lying in ECL.
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