Our business has suffered due to the pandemic, and has no sales since March 2020. So, We are planning to shift our stock to a temporary warehouse, since we cannot afford the high rental of the current premises, and the building owner is not willing to adjust on the rental.
The plan is to keep all the stock in this warehouse, (which we got for very nominal rates through a mutual friend) for 3-6 months, and hope that business demand picks up by then.
The current premises is where we have registered in GST, and from March, we are filing nil returns for both GSTR3B, and GSTR1.
The query is wether we need to inform GST office about this suspension in business? We are not doing any business activity now, just keeping the stock in a warehouse. We might shift to a smaller premises once the pandemic effect goes off, and then would be applying for an address change.
Requesting the experts to please suggest.
thanks...
CAclubindia
