Permanently Close Your GST Registration: Goods and Services Tax (GST) registration is mandatory for businesses meeting certain turnover criteria or operating in specific sectors. However, there might be scenarios where a business needs to permanently close its GST registration due to reasons such as shutting down the business, switching to a different structure, or other valid circumstances. This article provides a step-by-step guide to permanently cancel your GST registration in India. Permanently Close Your GST Registration
When Can You Cancel Your GST Registration?
You can apply for permanent closure of your GST registration in the following cases:
- Business Closure: If your business operations cease entirely.
- Change in Business Structure: If there’s a change in business constitution, such as switching from a proprietorship to a private limited company.
- Turnover Below Threshold: If your business turnover falls below the prescribed threshold limit.
- No Requirement for GST: If GST is no longer applicable to your business activities.
Step-by-Step Process to Permanently Close GST Registration
1. Log in to the GST Portal
- Visit the GST portal at www.gst.gov.in.
- Use your GSTIN (GST Identification Number) and password to log in.
2. Access the Cancellation Section
- After logging in, navigate to the ‘Services’ tab.
- Under ‘Registration,’ select ‘Application for Cancellation of Registration.’
3. Fill Out the Application
- Provide the necessary details, including the reason for cancellation.
- Specify the effective date of GST cancellation.
- Upload supporting documents (if required) such as a closure notice or dissolution certificate.
4. Submit Final GST Returns
- File all pending GST returns up to the date of closure.
- For regular taxpayers, file GSTR-10 (Final Return) within three months of the cancellation application or the date of cancellation, whichever is earlier.
5. Verification and Submission
- Verify the application using your registered Digital Signature Certificate (DSC) or Electronic Verification Code (EVC).
- Submit the application.
6. Track the Application Status
- After submission, the application will be reviewed by a GST officer.
- You can track the status of your cancellation application through the GST portal.
7. Approval of Cancellation
- Once approved, you will receive a cancellation order (Form GST REG-19) confirming the closure of your GST registration.
Important Points to Note
- Outstanding Liabilities: Clear any pending GST dues or liabilities before applying for cancellation.
- Taxpayer Responsibility: Even after cancellation, maintain your business records for a minimum of six years as required by GST laws.
- Revocation of Cancellation: If your registration is canceled by mistake or without your consent, you can apply for revocation within 30 days of the cancellation order. Permanently Close Your GST Registration
Conclusion
Closing your GST registration permanently is a straightforward process if all compliance requirements are met. By following the steps mentioned above, you can ensure a smooth and hassle-free closure. Always consult a tax professional or GST practitioner if you need assistance to avoid errors or delays.
For more information, visit the GST portal or contact your nearest GST office. Permanently Close Your GST Registration