GST authorities have cancelled over 1.6 lakh business registrations in October and November 2020. This action was taken because these businesses failed to file their GSTR-3B returns for a period exceeding six months. The move is intended to combat fake firms and fraudulent trading practices within the GST system.
To handle the menace of fake firms, fly-by-night operators, and circular trading entities, GST field formations cancelled 1,63,042 registrations in the month of Oct Nov this year due to non-filing of GSTR-3B returns for more than 6 months: Department of Revenue (DoR) sources.
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FAQ :
A total of 1,63,042 GST registrations were cancelled during October and November 2020.
The registrations were cancelled due to the non-filing of GSTR-3B returns for more than six months.
GST field formations, acting on behalf of the Department of Revenue, cancelled these registrations.
The cancellations are aimed at tackling fake firms, fly-by-night operators, and entities involved in circular trading.