Eajaz Ahmad (Accountant) (131 Points)
16 May 2023
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 17 May 2023
B Durga Prasad
(Student)
(175 Points)
Replied 17 May 2023
To set off the Input Tax Credit (ITC) balance after cancelling your GSTIN:
File GSTR-10: File the final GST return, GSTR-10, within three months of cancellation.
Determine ITC balance: Calculate the remaining ITC balance in your Electronic Credit Ledger.
Adjust against liabilities: Declare your tax liabilities in GSTR-10 and specify the amount of ITC to be set off against them.
File and submit: Submit the GSTR-10 return with the accurate details.
Utilize ITC: The ITC balance will be adjusted against the declared liabilities.
Completion: Once the return is filed and ITC is utilized, the cancellation process is complete.
To learn more about Reduce late filing fees for Form GSTR 10
For more detailed information, visit Swipe Blogs.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 18 May 2023
Eajaz Ahmad
(Accountant)
(131 Points)
Replied 18 May 2023
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 23 May 2023
Refund can claim as per the provision of Section 54 of cgst act. & it is not cover under the same.
So, it will get lapsed as you have filed the cancellation
CAclubindia
