ek partnership farm hai jisne April 2021 mein GST no liya hai aur ab vo Chate hai GST no Ko cancel karna Chate hai unhone purchase ki hai April and May but koi sale nahi hai
aur na hi gstr3b mein koi ITC cliam Kiya hai to isme stock ka kya hoga
aur ITC ka
5 Replies
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 30 June 2021
It's better to claim the ITC in June month return & thereafter surrender the GSTN & pay the GST via cash or credit ledger on closing stick.
CA. Heet Shah
(Tax Consultant & Practitioner)
(6180 Points)
Replied 16 July 2021
See U need to cancel the GST Registration No. Once you stop Business or transaction and has no intention to do it further.
Prior to cancellation you need to file all the returns along with appropriate details of ITC available and claim
CA. Heet Shah
(Tax Consultant & Practitioner)
(6180 Points)
Replied 16 July 2021
While applying for cancellation you need to disclose ITc claimed and Stock in hand
Further you need to discharge GST on the stock in hand (which would normally be ITC claimed).
Note: All returns shall be filed by the taxpayer before applying for cancellation
CA. Heet Shah
(Tax Consultant & Practitioner)
(6180 Points)
Replied 16 July 2021
To avoid compliance Non claiming of ITC & showing stock in hand would bring Litigation moreover
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