How to Surrender GST number | How to Cancel GST number
Introduction: GST (Goods and Service TAX) is one tax for all the goods & services. Organization which deals in Goods & Services will register them under the different slab of GST. GST has different slab, which applicable according to business in which you deals.
GST is applied at two different levels for local CGST, SGST for other state IGST. GST Registration is an easy process to register your firm for paying the tax registration is a onetime process to register.
GST Surrender is the process to Cancellation of GST Registration or Cancellation of GST Number due to some reasons. GST surrender is done after the GST Registration.
About GST Surrender
GST Surrender is the process of Cancellation of GST Registration. GST Surrender done due to various reasons. For the cancellation of GST surrender there is some specific reason.
For the surrender of GST registration user needs to be login their GST Portal. For GST Surrender user has to provide a valid reason. GST Surrender should be done under the provisions in CGST and SGST.
- Registered person can surrender the GST due to close of business.
- Not liable to pay GST under the provisions.
- Due to Fraud or any kind of misstatement.
- Business should not be commenced on the declared place.
- Last but not the least registered person should not furnished the returns under the provisions.
Reason for the Cancellation of GST Registration
There are some valid reasons for the cancellation or surrender of GST
- GST Registration cancelled because a registered person has contravened the provisions of the Act.
- A tax paying person has not furnished returns for the 3 consecutive tax periods under the section 10.
- A registered person or the person who is reliable for paying the tax has not furnished the tax for the last 6 months.
- The registered person has been found in any kind of fraud or misstatement.
- GST Registration should be cancelled because of not the commencement of the business.
There are different rules for the cancellation or surrender of the GST registration in CGST or SGST. In CGST GST registration should be cancelled for the some specific reasons under sub-section (1) section 29.
- Does not conduct any business from the date of declared place of business.
- Do fraud in invoice & bills without any supply or service of goods under the section 171.
Who Can Cancel GST Registration?
GST Registration should be cancelled by the authorized person like the registered user, reliable person, and officer.
Registered person can cancel or surrender the GST registration due to various reasons like:
- Business is not running or shutdown.
- Did not liable to pay tax under the sections
- Did not generate revenue for paying the tax under the sections
The authorized officer also cancelled the GST registration because they found some genuine reason:
- Registered user did some fraud
- Make invoice without dealing in any kind of goods & services.
