GST Registration Cancellation in Chennai
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Overview of GST Registration Cancellation in Chennai
GST Registration Cancellation in Chennai , a person has the option of cancelling their GST registration themselves or having an inspector do it for them. If the individual continues to operate their business after having their registration cancelled, they will face severe fines.
Cancellation of Taxpayer
Forms for Cancellation:
- An application for cancellation of GST registration must be made in form GST REG 16.
- This form must include details of inputs, semi-finished, and finished goods held in stock on the date of application, as well as any liabilities and payments associated with them.
- The proper officer must issue an order for cancellation in the form GST REG-19 within 30 days from the date of application.
- The cancellation will be effective from a date determined by the officer and they will notify the taxable person.
- For legal heirs of the deceased taxpayer, the same procedure must be followed.
Tax Cancelled by Officer :
- Do not conduct any business from the declared place of business;
- Issue invoices or bills without supplying goods/services;
- Violate the anti-profiteering provisions;
- Utilise input tax credit from electronic credit ledger to discharge more than 99% of the tax liability for specified taxpayers, with the total taxable value of supplies exceeding Rs.50 lakh in the month (with some exceptions), from 1st January 2021;
- Cannot file GSTR-1 due to GSTR-3B not being filed for more than two consecutive months (one quarter for those who opt into the QRMP scheme); or
- Avail input tax credit in violation of the provisions of section 16 of the Act or the rules.
Benefits of GST Registration Cancellation in Chennai
- Once a GST registration is acquired, it is important to keep track of compliance.
- If no business activity occurs, the taxpayer must apply for GST registration cancellation as soon as possible.
- The process for cancellation involves paying any late fees and submitting an application for revocation.
- If the GST registration lapses and the taxpayer does not file GST returns, they will not be able to apply for fresh GST registration using the same PAN.
- After the cancellation is revoked, the taxpayer must either cancel the GST or continue filing GST returns.
Checklist for GST Registration Cancellation in Chennai
- Notify the GST department about the cancellation of GST registration.
- Submit the cancellation application form to the GST department.
- Submit all the necessary documents along with the application form.
- Pay any outstanding taxes or dues to the GST department.
- Submit a copy of the cancellation application to the jurisdictional tax officer.
- Submit a copy of the cancellation application to all the customers and suppliers.
- Cancel all GST related registrations such as TDS, TCS, etc.
- Cancel all GST related bank accounts and other financial accounts.
- Submit a copy of the cancellation application to all the banks and financial institutions where you have accounts related to GST.
- Submit a copy of the cancellation application to all the departments where you have registered for GST related services such as e-way bill, etc.
- Submit a copy of the cancellation application to all the departments where you have registered for other services such as import/export, etc.
- Submit a copy of the cancellation application to all the departments where you have registered for other taxes such as VAT, service tax, etc.
- Submit a copy of the cancellation application to all the departments where you have registered for other services such as e-commerce, etc.
- Submit a copy of the cancellation application to all the departments where you have registered for other services such as e-invoicing, etc.
- Submit a copy of the cancellation application to all the departments where you have registered for other services such as e-filing, etc.
- Submit a copy of the cancellation application to all the departments where you have registered for other services such as e-payment, etc.
- Submit a copy of the cancellation application to all the departments where you have registered for other services such as e-audit, etc.
- Submit a copy of the cancellation application to all the departments where you have registered for other services such as e-returns, etc.
- Submit a copy of the cancellation application to all the departments where you have registered for other services such as e-verification, etc.
- Update your records and documents related to GST registration and cancel any pending orders or invoices related to GST registration.
Documents Required for GST Registration Cancellation in Chennai
- The business’s to be cancelled GSTIN
- Information on stock-held inputs, inputs used in semi-finished or finished goods, and stock-held inputs
- Information about any unpaid GST liabilities, fines, penalties, etc.
- Information on any GST payments made against this debt as well as information on input tax credits.
Process of Cancelling GST Registration in Chennai
The process of cancelling GST registration is lengthy but straightforward if followed correctly. To do so, follow these steps:
Step 1: Log in to the GST portal and select the Services tab.
Step 2: Under the Services tab, select the Registration option and then select the Cancel/Surrender GSTIN option.
Step 3: Read the instructions carefully and click on the Proceed button.
Step 4: Enter your GSTIN and click on the Search button.
Step 5: After completing the above steps, the Cancellation Details tab will be active. Now you need to fill in all required sections of the Basic Data tab.
Step 6: Select one of the options available in the Reasons for Cancellation tab, such as changes in the business’s constitution resulting in a change in PAN, ceasing to be liable to pay GST, closure or discontinuance of business, business transfer owing to merger, amalgamation, lease, sale, de-merger or otherwise, death of sole proprietor or other reasons.
Step 7: Once you have selected your reason and date to cancel your registration, enter your GSTIN and click Save and Continue.
Step 8: The Verification tab will now be visible. Again, fill out all the details under this tab.
Step 9: Close the application by selecting Submit with EDC or Submit with DSC. The first option sends an OTP to your registered contact address while the latter requires a digital signature.
Step 10: After reviewing the application, the officer must issue a cancellation order on form GST REG-19 within 30 days from the date of application.
In Tamil Nadu, what paperwork must be done to revoke a GST registration?
- Information about the stock-piles of inputs, semi-finished goods, and final items to which the cancellation is applied
- Responsibility for it
- The payment information
- Within 30 days of the application date, a cancellation order must be given in the Form GST REG 19. As a result, the cancellation date will take effect as of the date that the officer determines, and the taxable person will be informed.
- Individual’s cancellation on Form GST REG 16
- Creating a show-cause notice for Cancelling the GST registration in Tamil Nadu in Form GST REG 17.
- Reply to the show cause notice in Form GST REG 18
FAQ
To surrender GST online, you need to log in to the GST portal and go to the Services > Returns > Surrender GST Registration option.
Then, select the appropriate form and fill in the required details.
Once you have submitted the form, you will receive an acknowledgement number.
You can use this number to track the status of your application.
The government may revoke a person’s GST certificate under specific conditions:
- Failure to file GST returns for the following six months
- Failure to pay GST
- No commercial activity after GST registration in the next six months constitutes a violation of the GST laws.
- In the case of the Composite plan, not filing any GST returns for the following three months.