The taxpayer must apply through an application for cancellation in FORM GST REG 16. The legal heirs of the deceased taxpayer will follow the same procedure as below.
Application for cancellation has to be made in FORM GST REG 16.
The taxpayers must follow the below following steps for the Cancellation of GST Registration:
Step 1: Firstly, the taxpayers have to visit the Goods and Services Tax portal for the Cancellation of GST Registration
Step 2: Click on the ‘Login’ button to access the username and password page.
Step 3: Enter the correct ‘Username’ and ‘Password’ credentials along with the captcha in the required field and click ‘login’.
Step 4: Click on the Application for Cancellation of Registration link under the services tab that is visible on the home page.
Step 5: The portal displays various tabs for the cancellation of the registration form. There are three tabs such as Basic Details, Cancellation Details and Verification. Click on each tab to enter the details.
Provide Basic Details
Step 6: The Basic Details tab displays the pre-filled information in the sections of Basic Details and Address of Principal Place of Business.
Step 7: The applicant must fill the address manually for future correspondence, or check the Address option same as the above to copy the same address as in the Address of Principal Place of Business field.
Step 8: Then click on the “Save and Continue” button. A blue tick will appear on the Basic Details section indicating the completion of the Basic details. Now proceed with the next tab.
Step 9: The next tab Cancellation Details will get active after filling-in all the mandatory fields under the Basic Details tab.
Provide Cancellation Details
Step 10: Select a suitable reason from the Reason for Cancellation drop-down list.
Step 11: The below following five reasons are available in the drop-down list for the selection:
Change in the constitution of business leading to change in PAN
Ceased to be liable to pay tax
Discontinuance of business / Closure of business
Others
Transfer of business on account of amalgamation, de-merger, sale, leased or otherwise.
Change in the constitution of business leading to change in PAN
On selecting the Change in the constitution of business, leading to a change in PAN option, the applicant should enter the following details:
The required date for cancelling the registration.
Then enter the GSTIN of the transferee entity under the Details for Transfer, Merger or Change in Constitution section. The system will validate the same, and based upon its Legal Name of Business, will auto-populate the Trade Name.
Then click on the “Save and Continue” button.
Ceased to be liable to pay tax
On selecting the Ceased to be liable to pay the tax option, enter the following details:
The required date for cancelling the registration.
Enter the value of stock and also the corresponding tax liability on the stock.
Basis the entered stock details, manually enter the value to offset the liability that requires for offset from either the Electronic Credit Ledger, or the Electronic Cash Ledger, or both.
On submitting the application form, the system deducts the amount from the respective Electronic Credit Ledger, or the Electronic Cash Ledger, or both. The portal then makes debit entries after deduction
Click on the “Save and Continue” button.
CAclubindia
