GST Registration Cancellation
GST stands for Goods and Services Tax. It is a tax that is levied on the goods and services to a person. It is a kind of indirect tax that replaced many other types of taxes. It is announced in 1st July, 2017. GST is mandatory for certain businesses.
Registered GST can be Cancelled by the GST officer, or by the registered person who have 15 characters GSTIN. Cancellation of GST registration means that the person is no more able to pay or collect GST Tax.
A GST can be cancelled only if,
- The registered person is no more conducting business.
- If the person has not filed the tax for 6 months.
- Voluntary Cancellation
- Discontinuity of a business
- Transfer of a business
- Change in constitution of a business
- Death of a proprietor
- Any other reason
Forms to be filled:
Application for cancellation should be made in FORM GST REG 16.
The following details must be included in FORM GST REG 16
- Details of inputs, semi-finished, finished goods held in stock on which cancellation is applied.
- Liability thereon
- Payment Details
- The Officer has to issue an order cancellation in the Form GST REG-19 within 30 days from the date the application is made. The cancellation will be effective from a date determined by the Officer, and he will notify the taxable individual.
- Cancellation by a registered individual- Form GST REG 16
- Issue a showcase notice for cancellation – Form GST REG 17
- Reply to show cause notice – Form GST REG 18
- Application for revoking the cancellation – Form GST REG 21
- Ordering revoking the cancellation – Form GST REG 22.