Goods and Services Tax (GST) is an indirect tax levied on the supply of goods and services in India. It was implemented in July 2017 and has been a game-changer in the Indian taxation system. GST has streamlined the taxation process by merging several indirect taxes into a single tax. Any business whose turnover exceeds the threshold limit of Rs. 20 lakhs must register for GST. However, there are times when businesses need to surrender their GST registration due to various reasons. In this article, we will discuss the process of GST surrender online and the documents required for it.
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What is GST Surrender?
GST Surrender is a process of cancellation of GST registration by the taxpayer. It is done when the taxpayer wants to close his business or if he no longer qualifies for GST registration. It is important to note that GST Surrender can only be initiated if there are no pending GST liabilities or GST returns to be filed.
Process of GST Surrender Online
GST Surrender can be done online on the GST Portal. Here is a step-by-step guide to help you with the process:
Step 1: Log in to the GST Portal using your login credentials.
Step 2: Once you are logged in, click on the ‘Services’ tab and select ‘Registration’ from the drop-down menu.
Step 3: Click on the ‘Application for Cancellation of Registration’ option.
Step 4: Fill in the required details such as the reason for cancellation, effective date of cancellation, etc.
Step 5: Attach the necessary documents, such as the authorization letter, if any.
Step 6: Submit the application and the system will generate an ARN (Application Reference Number).
Step 7: Once the application is submitted, the GST officer will verify the application and may request additional information if needed.
Step 8: If the GST officer is satisfied with the application, he will approve it, and the registration will be cancelled.
Documents Required for GST Surrender
The following documents are required for GST Surrender:
- Authorization Letter: If the application for GST Surrender is filed by someone other than the registered person, an authorization letter is required.
- Bank Account Details: The details of the bank account linked with the GST registration must be provided.
- Proof of Business Closure: If the GST registration is being surrendered due to the closure of the business, proof of business closure must be submitted.
- GST Returns: All the GST returns must be filed before applying for GST Surrender.
- GST Challans: All the GST liabilities must be paid before applying for GST Surrender.
GST Surrender Time Taken
| Type of GST Registration Surrender | Time Taken for Surrender |
|---|---|
| Voluntary GST registration surrender | 7 working days |
| Involuntary GST registration surrender | 14 working days |
| GST registration surrender due to business closure | 30 working days |
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Frequently asked questions (FAQs) regarding GST surrender online:
- What is GST surrender, and when is it required?
- GST surrender is the process of canceling or surrendering a GST registration. It is required when a business is closing down, or there is a change in ownership or business structure that makes the GST registration irrelevant.
- Can a business surrender its GST registration online?
- Yes, a business can surrender its GST registration online through the GST portal. The process is straightforward and can be completed within a few minutes.
- What documents are required for GST surrender?
- The documents required for GST surrender may vary depending on the reason for surrendering the registration. However, some commonly required documents include a copy of the GST registration certificate, a copy of the PAN card, proof of closure or change in ownership, and any other relevant documents.
- Is there any fee for GST surrender?
- No, there is no fee for surrendering a GST registration.
- How long does it take to complete the GST surrender process?
- The GST surrender process is relatively quick, and in most cases, it can be completed within a few minutes. However, the actual time taken may depend on various factors, such as the completeness of the documents submitted and the processing time taken by the GST department.
- What happens after the GST registration is surrendered?
- Once the GST registration is surrendered, the business is no longer required to file GST returns or comply with GST regulations. However, any pending liabilities or refunds will need to be settled before the registration can be surrendered.
- Can a business apply for a new GST registration after surrendering its old registration?
- Yes, a business can apply for a new GST registration after surrendering its old registration if it meets the eligibility criteria for GST registration.
More FAQ’s
- Can I surrender my GST registration at any time? Yes, you can surrender your GST registration at any time if you are no longer required to pay GST or if you want to close your business.
- Is it mandatory to surrender my GST registration if I am closing my business? Yes, it is mandatory to surrender your GST registration if you are closing your business or if you are no longer required to pay GST.
- How long does it take to surrender my GST registration online? The time taken to surrender your GST registration online depends on various factors such as the completeness of your application and the verification process by the GST department. It may take anywhere between 15-30 days for the GST department to process your application.
- Can I surrender my GST registration offline? No, you cannot surrender your GST registration offline. You can only surrender your GST registration online through the GST portal.
- What are the consequences of not surrendering my GST registration? If you do not surrender your GST registration even after closing your business, you may face penalties and fines. It is important to surrender your GST registration to avoid any legal consequences.
- Is there any fee for surrendering my GST registration online? No, there is no fee for surrendering your GST registration online. However, if there are any pending liabilities or dues, you will have to clear them before surrendering your GST registration.
- Do I need to submit any documents for surrendering my GST registration online? No, you do not need to submit any documents for surrendering your GST registration online. You only need to fill in the necessary details and complete the application on the GST portal. However, you may be required to submit supporting documents if requested by the GST department.