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Cancellation of GST
Cancellation of registration under GST
You can cancel your GST registration if the GST rules don’t apply to you or you are shutting down your business or profession, or the tax officer calls for cancellation. The cancellation of registration in the Goods and Services Tax (GST) system can occur either initiated by the tax department or by the registered person. Reasons for cancellation include changes in business status, non-compliance with tax laws, non-filing of returns, or fraudulent registration. The cancellation process involves submission of forms electronically, investigation by tax authorities, and issuance of notices and orders. If cancellation is deemed necessary, the registered person must pay any outstanding taxes, interest, or penalties. Final returns must be filed within a specified period. Revocation of cancellation can be pursued under certain conditions, involving submission of an application, review by tax authorities, and issuance of orders. The revocation process varies depending on the circumstances and may involve hearings and additional documentation. Revocation under state or union territory laws corresponds to revocation under central GST laws.
Meaning of cancellation of GST registration
Cancellation of GST registration simply means that the taxpayer will not be a GST registered person anymore. He will not have to pay or collect GST or claim the input tax credit and accordingly, need not file GST returns.