Dear Experts,
I am a composite taxpayer under GST and my September, 19 return is filed. My annual turnover is below the GST threshold limit i.e. Rs. 40 lakhs. That’s why I am going to cancel my GST registration under the reason for cancellation ‘Ceased to be liable to pay tax’ and the date from which registration is to be cancelled is 01.09.2019. As the reason for cancellation is not ‘Discontinuance of business’, is it proper to keep filing NIL GST return until cancellation is approved?
After approval, you have to file the Final Return(GSTR-10).
Yes sir !!
I understand. But, is filing 'Nil GST return' until approval of Cancellation application logical as my business will continue and there will be turnover in the next quarters. I am cancelling the GST registration for the threshold limit, not for closure of business. My turnover is below Rs. 40 lakhs every year. In case of closure of business, filing Nil GST return until approval would be logical as there actually would not be any turnover. My main confusion is on the type of return - NIl or not?
AS PER SECTION 29 OF CGST ACT READ WITH RULE 21A :
WHERE THE REGISTERED PERSON HAS APPLIED FOR CANCELLATION OF REGISTRATION SHALL BE DEEMED TO BE SUSPENDED FROM THE DATE OF SUBMISSION OF APPLICATION. HENCE NO NEED TO FILE ANY RETURN THEREAFTER
FOR MORE DETAIL CAN REFER CIRCULAR 89/7/2019 GST
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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