The Central Board of Indirect Taxes and Customs has allowed taxpayers to withdraw their application for cancellation of registration (filed in Form REG-16) unless the tax officer has initiated action on it.
What is Form REG-16?
The application for the cancellation of registration under GST has to be made in FORM REG-16. The following details must be included in the form:
- The list of stock that is remaining on the date of the application of registration
- Details of the payment
- Any Liability thereforth
The GST officer must issue an order for cancellation in FORM REG-16 from 30 days of submitting the application. The date from which the officer announces cancellation will be the final date onwards which it will be effective.
Note: Application for revocation cannot be filed if the registration has been cancelled because of the failure to file returns. Such leftover amount must be first paid along with interest, penalty and the tax remaining.
To know more about Cancellation of Registration under GST, click here
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