1. What is GST Surrender or GST Cancellation?
GST Surrender or GST RegistrationCancellation refers to the process of voluntarily canceling a GST registration when a taxpayer no longer requires it or the business is closed.
2. Who can apply for GST RegistrationCancellation?
Any registered taxpayer under GST who wants to discontinue their business, close a branch, or no longer meet the conditions for registration can apply for cancellation.
3. When should I apply for GST RegistrationCancellation?
You should apply as soon as you stop doing business or if your turnover falls below the threshold limit making you ineligible for GST registration.
4. How do I apply for GST Cancellation?
You can apply online on the GST portal by submitting Form GST REG-16, stating reasons for cancellation and details of stock and liabilities.
5. What documents are required for GST Registration Cancellation?
Typically, you need details of stock on the date of cancellation, tax payment challans, and any other relevant business closure documents.
6. What happens after I apply for GST Cancellation?
The tax officer reviews the application and may ask for additional information. After verification, the registration is either canceled or the application is rejected with reasons.
7. How long does the GST RegistrationCancellation process take?
The tax officer must process the application within 30 days of receipt of the application.
8. Can I continue business after applying for GST Registration Cancellation?
No, once the cancellation is granted, you are not allowed to carry out any business under the canceled GST registration.
9. What if I have pending tax liabilities at the time of cancellation?
All pending taxes, interest, penalties, and fees must be paid before cancellation can be approved.
10. Can I reapply for GST registration after cancellation?
Yes, if you start business again and meet the criteria, you can apply for fresh GST registration.
11. Is there any impact on input tax credit (ITC) after cancellation?
Yes, you must reverse ITC on inputs, capital goods, and stock held at the time of cancellation, as per GST rules.
12. Can a GST officer cancel registration without taxpayer’s request?
Yes, the officer can cancel registration if the business is found to be non-operational or violating GST laws.