What happens if you dont use your GST number?
If your business comes under recommended guidelines of Goods and Services Tax, then applying for GST registration is essential. If you don’t follow the prescribed rules and regulations, then your business is liable to pay fine.
How do I close my GST number permanently?
How to Surrender your GSTIN
- Step 1: Login into your account on GST.GOV.IN.
- Step 2 : Go to Services >> Registration >> Application for Cancellation of Registration.
- Step 3: Fill the address for future communication or select the option of Address same as above and then go to Cancellation Details tab.
Can GST number be surrendered?
So, the answer is, you can surrender the GSTIN number only if the annual turnover is less than Rs. 20 lacs. Also, application for the surrender of GST registration shall be made only after one year of getting the GST registration certificate in case of voluntary registration.
What happens if GST registration is Cancelled?
Meaning of cancellation of GST registration Cancellation of GST registration simply means that the taxpayer will not be a GST registered person any more. He will not have to pay or collect GST or claim input tax credit and accordingly, need not file GST returns.
Can I close my GST account?
The registration granted under GST can be cancelled for specified reasons. The cancellation can either be initiated by the department on their own motion or the registered person can apply for cancellation of their registration. In case of death of registered person, the legal heirs can apply for cancellation.
Should I file my GST return if my GST number is cancelled?
However, generally if you do not have any liability, they would cancel the GSTIN. So, taxpayer would be the best person to decide, if the returns should be filed or not. Revocation of cancellation of GST means that the application of cancellation of registration has been reversed and the registration is still valid.
How to cancel provisional registration in GST?
Here are the steps of cancelling on GST Portal-. Step 1. Log in to the GST Portal and click the Cancellation of Provisional Registration. Step 2. The Cancellation page opens. Your GSTIN and name of business will show automatically. You are required to give a reason for cancellation.
When did you Close Your GST/HST account?
You are an annual filer with a reporting period of January 1 to December 31, 2018. You closed your business on October 21, 2018, and closed your GST/HST account on the same day.
When is a person no longer liable to pay GST?
In the case of amalgamation, merger, de-merger, sale, lease, or otherwise. Change in constitution of business i.e. change in PAN. If the business was not commenced after voluntary registration. A taxable person is no longer liable to be registered under the GST Act.