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
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Gst cancel aur stock treatment
Replies (5)
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.
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
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
To avoid compliance Non claiming of ITC & showing stock in hand would bring Litigation moreover
Thanks to all
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