GST Cancellation

GST Cancellation

Meaning of cancellation of GST registration

Cancellation of GST registration simply means that the taxpayer will not be a GST registered person any more. He will not have to pay or collect GST or claim input tax credit and accordingly, need not file GST returns.

Consequences of GST registration cancellation

- The taxpayer will not pay GST anymore

- For certain businesses, registration under GST is mandatory. If the GST registration is cancelled and business is still continued, it will mean an offence under GST and heavy penalties will apply.