GST Tip – 377

As per Notification No. 51/2017 – Central Tax , Last Date for Cancellation of Registration for Migrated Tax Payers has been extended from 31st Oct 2017 to 31st Dec 2017. For Cancellation of Registration, FORM GST REG-29 has to be filed.

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GST Tip – 308

As per section 29 of the CGST Act at the time of cancellation of registration, the taxpayer has to reduce the input tax credit claimed at rate of 5% per quarter on the capital goods, plant, and machinery.

GST Tip – 307

As per Section 29 of the CGST Act,  The cancellation of registration shall not affect the liability of the tax payer to pay tax and other dues under this Act or to discharge any obligation under this Act or the rules made thereunder for any period prior to the date of cancellation whether or not such tax and other dues are determined before or after the date of cancellation.

GST Tip – 306

As per Sub-section 2 of section 29 of the CGST Act, any person who has taken registration voluntarily and has not commenced his / her business within 6 months from the date of issue of the registration, the proper officer can cancel such registration.

Cancellation of Registration Extended to 30th Sep 2017

To address the concerns of taxpayers arising from Transition to the GST regime, the Government decides to extend the time limit for filing intimation for Composition Levy (filing of intimation FORM GST CMP-01) up to 16th August, 2017; The period of applying for Cancellation of Registration is being extended up to 30th September, 2017.

The Government is mindful of the concerns of tax payers, especially the small taxpayers, arising from transition to the GST regime from 1st of July, 2017.

With a view to ease the compliance burden of provisionally migrated small taxpayers opting to pay tax under the Composition scheme, it has been decided to extend the time limit for filing intimation for Composition levy (filing of intimation FORM GST CMP-01) up to 16th August, 2017.

Similarly, the taxpayers who were provisionally migrated by virtue of being registered under the existing laws, but who are no longer required to be registered under GST, the period of applying for Cancellation of Registration is being extended up to 30th September, 2017. Relevant notifications are being issued.

****DSM/SBS/AK
(Release ID :168858)