A Lot Of People In India Are Still Confused About GST. They Don’t Know How To Register, Fill In Return Forms, Fill Out Tax Challans, Or Use E-Way Bills. In The Event That You Have Mistakenly Registered For GST And Need To Cancel It, You Can Only Do So If Your Company’s Annual Turnover Is Less Than $20 Lakhs, Which Is The Total Amount Of Sales Plus Unregistered Purchases.
A GST Cancellation Means The Taxpayer Is No Longer Enrolled In The GST System, He/She Will Not Be Required To Pay Or Make GST. The Results Of The Cancellation Are As Follows:
- GST Will No Longer Be Paid By The TaxpayerÂ
- A GST Registration Is Mandatory For Certain Businesses. When The GST Registration Is Canceled And The Business Continues, It Will Constitute An Offence Under GST And Result In Heavy Penalties.L Apply.
In The GST Act, There Are Many Potential Scenario That Can A Taxpayer Can Face. In This Article, We Examine The Procedure And Forms For Revoking A Cancellation Order For A GST Registration. The Revocation Provisions Are Contained In Rule 23 Of The CGST Rules, 2017.
Note: GST Registration Can Be Revoked If The GST Registration Certificate Has Been Revoked By The GST Authorities.
Requirements for Cancellation of GSTÂ
When using Form GST REG-16 for cancellation, the applicant must define the following information:
- The contact address includes a mobile number and an email address
- Reasons for cancellation
- Date on which cancellation is desired
- The value and tax payable on the stock of inputs, the inputs available in semi-finished products, the inputs available in finished products, and the stock of capital goods/plant and machinery
- Registration details of the entity if the current unit merges, amalgamates, or transfers
- Detailed information on the taxpayer’s most recent tax return as well as the return’s ARN.
GST Cancellation Reasons
- When turnover is less than 20 lakhs, cancellation occurs
- Other cases of cancellation by the taxpayer, such as discontinuance and conversion
- Tax officers may cancel a business if it fails to meet established parameters.
Revocation time limit
A registered taxable person may apply to revoke the cancellation of their GST registration within 30 days of receiving the cancellation order. In order to apply for a revocation, the proper officer must have voluntarily cancelled the registration. Therefore, a taxpayer who voluntarily cancels their GST registration does not have the option of revocation.
An application for revocation
Registered persons must apply for cancellation of their GST registration in FORM GST REG-21, either directly or through an approved facilitation center.
Application processing
The cancellation of the taxpayer’s registration may be reversed if the appropriate officer is satisfied with the taxpayer’s justification.
Revocation by the proper officer is only permitted within 30 days following the application date. The appropriate officer must sign FORM GST REG-22 revoking the cancellation.
Procedure for Revocation of Cancellation
For taxpayers, revoking or canceling a GST registration online is as easy as following these steps.
- Step 1: Go to the GST portal to revoke or cancel your GST registration
- Step 2: Enter your username and password by clicking the ‘Login’ button
- Step 3: Enter the correct ‘Username’ and ‘Password’ information as well as the captcha, and then click ‘Login’
- Step 4: Under the services tab, click revocation of cancellation of GST registration on the home page
- Step 5: Upon clicking the link, you will be redirected to the page where you must provide your reason for revocation of cancellation.
- Step 6: Choosing the file to attach can now be done by clicking the ‘Choose File’ button
- Step 7: Check the verification box
- Step 8: From the drop-down list, select the name of the authorised signatory
- Step 9: Enter the location of the application’s filing in the place field
- Step 10: Click ‘save’ if you would like to save and retrieve the application form later
- Step 11: Choose between the DSC and EVC buttons
- Step 12: Use your Digital Signature Certificate (DSC) or EVC option to sign the form. You will receive an OTP after selecting any of the options listed below.
Read more
Guide to Getting Gst on Land Registration in Andhra Pradesh