The GST Council oversees and regulates the Goods and Services Tax (GST) in India.
Photo Credit: Pexels/ Christina Morillo
Here's a step-by-step guide on how you can cancel your GST registration online
Goods and Services Tax (GST) came into effect in India in 2017. The new tax system replaced the Value Added Tax (VAT), octroi duties, service tax, central excise duty, and entertainment tax levied by the state and central governments in the country. GST's implementation also eliminated the need for a vendor and manufacturer to pay taxes multiple times on the same product, consequently simplifying the tax structuring in the country. To file tax returns, an entity or you as an individual needs to be registered on the GST portal. However, in case of business closure, you might want to cancel your or your company's GST registration. For this scenario, the authority lets you do the same online from the comfort of your home.
If you are also wondering how you can cancel your GST registration online, we have created a step-by-step guide for you to help you understand the process. Alternatively, you can also read our guide on ‘how to log in to the GST Portal online in India' here.
There are multiple scenarios in which you might want to cancel your GST registration. According to the GST portal, you might want to cancel your registration in case there has been a change in the constitution of the business, which ultimately led to a change in PAN (Permanent Account Number). Meanwhile, you might also want to seek cancellation when you are no longer liable to pay taxes, closure of business, or discontinuation of business activities.
On the other hand, you can also cancel your GST registration when the sole proprietor of the business has deceased, or in case of transfer of business because of amalgamation, merger, demerger, sale, or lease.
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