YOU CAN NOW REGISTER A GST Registration - Goods & Service Tax Registration Online IN INDIA AT JUST RS. 1,499 (ALL INCLUSIVE)*
GST registration can be cancelled voluntarily if the business is dormant or does not have the necessary business turnover. Further, a GST registration can also be cancelled by a GST officer if the business is non-compliant under GST. Once GST registration is cancelled, the person or entity is no longer required to file GST returns and is not required to pay or collect GST.
Before the cancellation of registration, the Officer would issue a notice to such person whose GST registration is liable to be cancelled, requiring show cause within seven working days from the date of service of such notice. The registered person can reply to the show cause notice within the prescribed time, or the GST registration can stand cancelled.
Under Section 29 of the CGST Act, a GST registration cancellation can be initiated by the person registered under GST in the following circumstances:
While applying for GST cancellation, the applicant is mandated to pay any overdue GST liability as per the GST returns filed. In addition, the input tax contained in the stock of inputs, semi-finished goods, finished goods, and capital goods or the output tax liability of such goods - whichever is higher must be remitted by the taxpayer. The input tax credit on the existing stock must be paid back, as the taxpayer would not be ineligible to claim ITC on cancellation of GST registration.
After obtaining GST registration, if there is no business activity, the taxpayer needs to initiate GST cancellation as per the process laid out above. If the taxpayer stops filing GST returns and lets the GST registration to be cancelled by the GST department, then he or she would not be eligible to obtain another GST registration under the same PAN.
