One of my friend wants to close his GST number as he is closing his business want to know procedure also wants to know Whether he can claim input credit which is lying in his account as it amount more than 35000 plz help
5 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14861 Points)
Replied 23 April 2018
- Application for cancellation has to be made in FORM GST REG 16.
- The following details must be included in FORM GST REG 16-
- Details of inputs, semi-finished, finished goods held in stock on the date on which cancellation of registration is applied
- Liability thereon
- Details of the payment
- The proper officer has to issue an order for cancellation in FORM GST REG-19 within 30 days from date of application. The cancellation will be effective from a date determined by the officer and he will notify the taxable person
- Read rules no 20,21,22 of the CGST rules 2017
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 23 April 2018
Yes its online
& the balance in credit ledger cannot be withdeaw. it will setoff against ur stock
& the balance in credit ledger cannot be withdeaw. it will setoff against ur stock
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 24 April 2018
even though he cannot take refund from his credit ledger ,... setoff by showing exp. to P&L
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