Cancellation of GST Registration in Rajasthan

Goods and Service Tax is the one single tax replacing various indirect tax. GST Registration or Return filling is still a big matter of concern in India. People are still in vague of GST compliances related to return filling, procedure, Challan and most importantly its advantages. It all leads to error and non-compliance of GST. And in case if you are thinking to cancel the GST registration then make sure, the annual turnover of your company is less than ₹ 20 lakhs which is the total of sales plus unregistered purchases.
The Legal Window has a team of experts who will timely and efficiently assist you in cancellation of GST registration in Rajasthan. You may contact us at 072407-51000 or email at [email protected] for cancelation of registration in Rajasthan.

Meaning of Cancellation of GST Registration in Rajasthan

Cancellation of GST Registration means de-registration of business firm from GST system. Although, GST Registration is compulsory for every business entity having an annual turnover exceeding a certain threshold limit.

Why taxpayer has urge to cancel the Registration?

• A GST Registration can be cancelled for various reasons, including:
• Closure or discontinuation of business operations.
• Change in business ownership or structure.
• Change in the nature of business activities.
• Non-compliance with GST regulations.
• Transfer of business ownership.

The cancellation of GST Registration indicates that the taxpayer will not be considered as GST enrolled person. Consequently, unable to enjoy benefits of GST regimes. If the GST Registration is cancelled and business is still continued, it will mean an offence under GST and penalties will apply.

Who can cancel the Registration?

GST Registration can be cancelled in Rajasthan by following parties:

• Requested by Taxpayer.
• By tax officer’s order.
• Requested by Legal heir, in case of death of Taxpayer.

In case of Voluntary GST Registration, taxpayer may apply for cancelation of GST only after completion of 1 year from the of registration.

Yet, there is no restriction to taking GST registration once it has been cancelled except where it was cancelled by the tax officer.

Pre-requisites for cancellation of GST Registration

The applicant must provide following information in Form GST REG-16:

• Contact address, with mobile number and email address
• Reasons of cancellation
• The desired date of cancellation
• Specifications of the value and the tax payable on the stock of inputs, the inputs possible in semi-finished goods, inputs available in finished goods, the stock of capital goods/plant and machinery
• Details of registration of the entity whether it is merged, amalgamated, or transferred.
• Specifications of the latest return filed by the taxpayer along with the ARN of the particular return.

Documents filling

• Contact and address detail of business entity.
• Aadhar card/PAN card.
• Information of all capital goods, semi-finished goods or finished goods.
• DSC in case of LLP.
• GSTIN of business entity.
• Reason for GST cancellation.
• Date for GST cancellation.

Procedure for cancelation of GST Registration in Rajasthan

Step 1: If the concerned officer has reasons to cancel the registration of a Person, then he will send a show-cause notice to such person in FORM GST REG-17.

Step 2: The person must reply in FORM REG–18 within seven days from the date of service of notice mentioning the reasons for his/her registration should not be removed.

Step 3: On the satisfactory reply, the concerned officer will leave the proceedings and give an order in FORM GST REG –20.

Step 4: In case unsatisfied reply by the taxpayer, the concerned officer will assign an order in FORM GST REG-19 for cancelation of registration.

Step 5: The officer will determine within 30 days from the release date of an explanation from the candidate in FORM GST REG-24.

Forms for cancelation of registration

Consequences

• Taxpayer will no longer require to pay GST also not allow collect GST.
• After cancellation of registration, business is still in continuance then it has to pay penalty.

Takeaway

Cancelation of GST registration simply mean that the taxpayer is no more liable to pay tax. With this assesses are unable collect GST as well and no need to file GST returns. In this article we discussed about the procedure and consequences of cancellation of GST registration in Rajasthan. To make realisation and still have mindset to cancel GST registration then contact the Legal Window. We assure guaranteed services to our customer.