Surrender of st 1( registration certificate) - urgent

This query is : Open

Guest

Guest (Querist)

25 June 2012 ST1 was taken in 2010 before starting the business however due to some personal reasons the business for which it was taken could not start. As a result, returns were not filed either
Now i want to surrender the certificate. Should i attach a letter mentioning the fact that the said business was not started as a reason for non filing of return?
Or should i file nil return for all the periods and thn surrender?
Will i be liable for penalty for late filing, any way to waive the penalty?

RENGARAJ R.K

RENGARAJ R.K (Expert)
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25 June 2012 Have you not raised any bill so far after taking RC? You should have filed nil return for the 4 half yearly returns. Now kindly meet your range superintendent before surrendering thro online and submit a letter stating that you have not started the business and hence opting for surrendering the RC. For nil return there is no penalty. My question is when there is no business transaction, why RC was taken?

rengaraj

Message likes : 1 times

Guest

Guest (Querist)

25 June 2012 No, havent raised any bill as like i said business couldnt start.
When i decided to start this business, my CA advised me to first get various registrations before starting business and st2 certificate was one of them.
But due to some personal reasons i wasnt able to actually commence the business.
He didnt guide me as to surrendering it, one of my friend this week told me to do it and about penalty because of not filing returns?
Hence i wanted to know will i be liable for charges even though there was no business?

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CA UMESHKUMAR R. ACHARYA

CA UMESHKUMAR R. ACHARYA (Expert)
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26 June 2012
You are liable to file return Nil even if

there is no business.

There may be various reasons for which you may have taken Number eventhough there is
no business transction. For e.g. certain company demand STNo when you file a tender.

So you need not worry on that matter.

Simply get number surrendered as soon as
possible and there is no penalty.

This is in the best interest of you.

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