Excess itc in credit and cash ledger while cancelling

This query is : Resolved

suhas potadar (Querist)
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19 March 2019 Dear sir,
I want to cancel my gst no. because i had closing my business and also my turnover is below 20 lack. But i had cash and credit balance available in gst credit and cash ledger, can i claim that balance as refund.
Plz guide me.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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22 March 2019 You have to reverse the credit ledger and nil your stock. the reversal of input credit lying in stock must be paid either by way of debit to cash ledger or debit to credit ledger. So you can use the cash ledger balance lying in discharge of reversal liability and pay remaining if any.