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Notice of return for cancelled registration and closed business

anupama (industrial trainee) (79 Points)

06 April 2021

Sir,
If a proprieter has obtained voluntary gst registration for his business and then cancelled the same without filing any return for AY 2018-19.
And now is carrying out a new business with new registration in another state.
Today he got a notice for filing return of aforesaid AY. with penalty of non filing. Please guide for the situation.

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5 Replies

zishan mandli (203 Points)
Replied 07 April 2021

Wait for the penalty waiving scheme...i think government is thinking regarding and will give opportunity in about September...so wait upto September..

1 Like

anupama (industrial trainee) (79 Points)
Replied 07 April 2021

Thank you sir for your reply
but the notice states to file the return within 15 days otherwise the tax liability will be assessed under section 63 of the act.
though there is no tax liability only penalty of 10 k has been imposed.
Is it going to impact my current business as my old as well as new one both are attached to my pan only. please help.

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 08 April 2021

Yes .... correct the proceedings under Section 63 will be initiated 'Assessment under Best judgements' & in non compliance of notice the Officer can assess the tax liability based on his best judgement.

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anupama (industrial trainee) (79 Points)
Replied 08 April 2021

So, should I file the return with penalty for Nil GST of closed business within 15 days? or I should wait for the next step of Assessing officer?
wat would be the final consequence on my current business for non filing?

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 08 April 2021

are you ready to accept the tax liability assess by tax officer .... why you want get into the litigation. so its my view better to complete all your compliance before 15 days