How long does it take to cancel GST registration?
How long does it take to cancel GST registration?
The process for GST registration is mandatory for businesses that need to register and comply with the GST regulations. However, the process to cancel GST registration is more straightforward than the process to register for it. Cancelling your GST registration is relatively simple. In this article, we shall discuss the process of cancelling GST registration and how long it takes.
What is the process for termination of GST registration?
- First of all, you need to apply for cancellation of GST registration through the official government website. You need to provide the necessary documents and information and complete the form.
- After you have submitted the form, you will receive an acknowledgement number. This number will be used to track the status of your application.
- Once your application is approved, the GST department will issue a cancellation order. This order will be valid for a period of two years. You will not be able to register for GST again during this period.
Note: It is essential to take into account that voluntary and involuntary cancellations of a GST registration require different cancellation procedures. If you voluntarily terminate your GST registration, you must inform your clients of the termination. You must also notify the GST department of any outstanding Tax liabilities.
If you are involuntarily cancelling your GST registration, you must submit a cancellation application within 30 days of the date of cancellation. In this case as well, you must inform the GST authorities of any outstanding Tax obligations.
What is the time frame for terminating a GST registration?
Once your application is accepted, the process of cancelling GST registration should take no more than 15 days. However, it may take up to a month, depending on the complexity of your application and the volume of work the GST department is dealing with.
In some cases, the process may take longer than 15 days. This can happen if the GST department has any queries or doubts. If your application needs to be completed or has any errors, the process can take longer.
In conclusion, the process of cancelling GST registration is relatively straightforward. It should take up to 15 days to cancel your GST registration. However, it may take longer in some cases. It is important to note that the process is different for voluntary and involuntary cancellations. In either case, you must inform the GST department about pending GST dues.
