In this article, we are going to discuss GST Cancellation Fees or Charges. There are lot of the Startups or business which are not doing business in India and having the GST & never ever filed the GST Return etc, Now Closing they want to know about How much its Cost for the Cancellation the GST Registration.
What is GST Cancellation
If you want to close your business on which you have charged GST, then you will have to keep these few things in mind before surrendering.
- The main compliance before canceling GST registration is return filing i.e. your GSTR-1 & GSTR3B should be filled and if it is not filled then you will not be able to apply for cancellation of your GST registration.
- If your tax liability is clear then you can get your GST registration canceled.
- And if you have any input tax credit left, it will also have to be reversed against the closing stock.
Even in the case of death you can get your GST registration canceled.
GST Cancellation Fee or Charges
Whenever you cancel your GST registration, there is no cancellation fee by the government. But if you want to hire a CA or Professional then you will have to pay ₹ 1000 to ₹ 5000 and it varies from case to case.
GST Cancellation Process
This is the procedure to cancel GST registration which we are going to discuss step by step.
- When all your compliances are fulfilled, after that you have to tap on the service option and inside the registration an option will show Application for the Cancellation of the Registration.
- Tap on GST number
- Tap on Address for the future correspondence
- After that Reason for the Cancellation show in which many reasons will be shown related to why you want to cancel your GST registration and you can choose accordingly.
- After that the option of date filling will be shown.
- After that tax payable on the stock will be shown.
- After that you can complete the cancellation process by tapping on the Verify option.
Note: After the cancellation process, GST-10 has to be filed. If you fail to file within 3 months, you may have to pay a penalty of Rs 100 per day or a maximum penalty of Rs 10000.
If you want to cancel GST registration, there is no fee prescribed by the government, but you can contact the professional regarding cancellation like myonlineca and you can do it at low cost. And professionals will help you in getting your GST registration canceled.