A Complete Guide To GST Registration Cancellation

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A Complete Guide To GST Registration Cancellation
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It can be difficult to navigate the GST (Goods
and Services Tax) landscape in India,
particularly when terminating your GST
Registration. Knowing the right process for GST
Registration Cancellation is essential,
regardless of whether youre terminating your
company, downsizing, or your yearly revenue is
below the required registration threshold. To
provide a seamless transition for your company,
this article will lead you through the why, when,
and how of cancelling your GST registration.   Bef
ore we get into the discussion, if you are
looking for professional help with your GST
Registration Cancellation Online in
India, contact Eazy Startups today. There is no
doubt that such a process involves a lot of
complications, but with the assistance of
specialists from Eazy Startups, you can avoid all
complications along the path. Thus, you can
achieve a hassle-free GST Registration
Cancellation. Contact us today if you need the
best help with GST Apply Online or GST
cancellation for your startups.
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Now, lets dive into the detailed discussion of
the topic-
01
When to Cancel GST Registration
02
Application Process
03
Timelines for Approval
04
Consequences of Cancellation
05
Revocation of Cancellation 
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When to Cancel GST Registration
There are several situations in which business
owners can voluntarily apply for GST Registration
Cancellation, such as

• Business closure or transfer of ownership
• Revenue dropping below the GST threshold
• Switching from a regular to a composition
  scheme
• Merger or acquisition of your business
• Any other reason to discontinue your business

If you are facing any of the above-mentioned
situations and want professional help cancelling
your GST Registration, contact Eazy
Startups today. 
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Application Process
To apply for voluntary GST cancellation, you need
to file an application on the GST Portal with the
following details

• Reason for GST Registration Cancellation Request
  
• Details of inputs/capital goods in stock, along
  with input tax credit
• Tax payments for the relevant period
• Tax liabilities that are pending
• Particulars of the sold or disposed assets

You must file a final GST Return in Form GSTR-10
detailing relevant transactions like sales,
purchases, and taxes. Any excess input tax credit
must also be claimed before cancellation is
approved. 
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Timelines for Approval
The tax officer will review your cancellation
request and may ask for clarifications within
seven working days. Normally, approval is
provided within 30 days of filing Form GSTR-10.
However, it may take up to 90 days in certain
cases. You also have to pay any unpaid taxes to
obtain the approval. Post successful
cancellation, a cancellation order is issued in
Form GST REG-19. 
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Consequences of Cancellation
After your GST Registration cancellation, there
are some key consequences applicable-

• Any remaining input tax credit will lapse and
  cannot be claimed
• You must file a final return in Form GSTR-10
  within three months
• Can only claim refunds filed before the date of
  cancellation
• Need to destroy all unused invoices/letterheads
• Liable to pay back any unpaid taxes or pending
  dues 

You must file a final GST Return in Form GSTR-10
detailing relevant transactions like sales,
purchases, and taxes. Any excess input tax credit
must also be claimed before cancellation is
approved. 
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Revocation of Cancellation
It is possible to revoke the GST Registration
Cancellation within 30 days of the effective
cancellation date if you need to resume business
operations. You can submit an online application
in Form GST REG-21 citing the reasons for
revocation.   The tax officer will cancel the
initial cancellation order if your explanation is
valid and you pay the applicable GST dues. It
reactivates your GSTIN. 
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Closing Note
Removing your GST Registration is a big decision
that needs to be planned and thought through
carefully. You can seamlessly move your company
onto the next stage while maintaining compliance
with GST rules and regulations if you comprehend
the procedure and make the necessary
preparations. Always keep up with the most recent
revisions to the GST regulations, and if you need
specific guidance or support, think about
speaking with our expert professionals at Eazy
Startups. We can help you avoid all complications
of GST Registration Cancellation Online in India.
www.eazystartups.com
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