Refund of excess balance after RC cancellation

Can any taxpayer apply for refund of excess balance after RC cancellation
Replies (5)
Quick Summary
This discussion clarifies how taxpayers can claim a refund for any excess balance remaining after cancelling an RC (Registration Certificate). It explains that any Input Tax Credit (ITC) available at the time of cancellation must be reversed. Any remaining cash balance, after settling all liabilities, can then be claimed as a refund.

ITC or Cash...???
If it is itc

You have to reverse all ITC available at the time of cancellation of RC.

And excess Cash balance after sett of all liability, can be claimed for refund

Originally posted by : D G MOHAN
If it is itc

Yes I agreed with @ sstax.....

The balance ITC will be reverse.

In case any closing available then tax will be calculate and pay after adjusting ITC. 

Originally posted by : D G MOHAN
If it is itc

Please don't ask/inserting questions into another person's Query make new forum and ask your questions...

 

 

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