GST Cancellation in Chennai

GST cancellation takes place if the taxable person has been registered under the previous laws and not liable to get the registration under the GST Act. Also it can be cancelled if the person has deceased or the business has discontinued and if there is any change in the constitution of the business. There are other possibilities also where a person who is registered under the GST composition scheme fails to furnish for period of three months. The GST cancellation in Coimbatore can be done either by the department on their own or by the person. In case of death of the person, the legal heirs can also apply for the cancellation. Upon the cancellation of the GST, the person should file a return which is called the final return. This final return has to be done within three months of the date of cancellation, electronically through Form GSTR-10.

For some businesses, the GST registration is mandatory and when the GST cancellation occurs during the time of business continuation, then it will be considered as an offence and heavy penalty will be levied. The application for the cancellation should be made in Form GSTR 16. The necessary details are input, semi-finished, finished goods which have been held in stock on the date of the GST cancellation applied, liability and payment details. As said before the GST returns must be paid up to date. If there occurs any non-compliance with respect to GSTR-3B or GSTR-1 return or the GST annual return then overdue returns should be filed before initiating the GST cancellation process. The application filed for the cancellation enters into non-acceptance state when the submitted application is incomplete. Also in case of merger, amalgamation or transfer of the business, the new business will not be registered with the tax authority.