Surender/cancel of gst number

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190 Points Posted on 15 January 2022
i am a composition dealer. i want cancel my gst number.so what i will pay tax on stock yes ya no. plz tell me with resion
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On 15 January 2022 at 18:33 Report
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Quick Summary
If you're a composition dealer looking to cancel your GST number, you'll need to settle all outstanding liabilities first. While input tax credit (ITC) on stock is typically reversed, composition dealers don't claim ITC, so there's no tax to pay on your existing stock in this regard.

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Profession
28269 Points Posted on 15 January 2022
Gst number can be cancelled only when liabilities are paid off.
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On 15 January 2022 at 19:37
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CA Practice
103 Points Posted on 15 January 2022
Your ITC on stock will be reversed
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On 15 January 2022 at 23:05
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CA
618 Points Posted on 15 January 2022
For composition their will be no ITC. na .....
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On 15 January 2022 at 23:14
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Chief Accountant
3150 Points Posted on 15 January 2022
Not required to pay any tax.
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On 15 January 2022 at 23:35

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