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GST NUMBER CANCELLIATION

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(Querist)
19 July 2023 Dear experts

I am a regular taxable person under GST and my turn over is less than 40.00 lac in last F.years and the stock as on 31.03.2023 was Rs 35.00 Lac and i want to close my business in current FY. Can i cancel GST number. In that case any GST liability to be paid.

Thanks in advance for reply.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
19 July 2023 Yes you can cancel GST registration.
You have to file GST return upto date and pay any GST upto date.
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satish kumar Chauhan

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satish kumar Chauhan (Querist)
19 July 2023 sir any tax liability on unsold stock
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
19 July 2023 No supply of goods is taking place at the time of closure of business, therefore, no GST is applicable on the same.

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