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GST Surrender/Cancellation

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What is meant by surrender/cancellation of GST registration?

Cancellation/Surrender of GST registration simply means that the taxpayer will not be a GST registered person any more. He will not have to pay or collect GST.

Consequences of Cancellation/Surrender

  • The taxpayer will not pay GST anymore
  • For certain businesses, registration under GST is mandatory. If the GST registration is cancelled and business is still continued, it will mean an offence under GST and heavy penalties will apply.

Who can cancel/surrender the GST registration?

Cancellation/Surrender of GST registration can be done by-

  1. Requested by tax Payer
  2. Tax officer
  3. Legal heirs, in case of death of taxpayer
  4. Application for cancellation, in case of voluntary registrations made under GST, can be made only after one year from the date of registration.

Why does a taxpayer wish to cancel his registration?

  1. The business has been discontinued
  2. There is a change in the constitution of the business (For example- Private limited company has changed to a public limited company)
  3. The business has been transferred fully, amalgamated, demerged or otherwise disposed — The transferee (or the new company from amalgamation/ demerger) has to get registered. The transferor will cancel its registration if it ceases to exist.

Forms for cancellation

All those who cannot follow the above method must file an application for cancellation in FORM GST REG 16. The legal heirs of the deceased taxpayer will follow the same procedure as below:

  • Application for cancellation has to be made in FORM GST REG 16.
  • The following details must be included in FORM GST REG 16-
    1. Details of inputs, semi-finished, finished goods held in stock on the date on which cancellation of registration is applied
    2. Liability thereon
    3. Details of the payment
  • The proper officer has to issue an order for cancellation in FORM GST REG-19 within 30 days from date of application. The cancellation will be effective from a date determined by the officer and he will notify the taxable person.