GST Amendement/Cancellation
Shloktaxwala modification in India refers to the process of making changes or amendments to the Goods and Services Tax (GST) system implemented in the country. The modifications aim to simplify the tax structure, reduce compliance burden, and promote ease of doing business. The government periodically reviews and updates the GST system to ensure its effectiveness and efficiency.
Shloktaxwala cancellation refers to the process of ending a GST registration for individuals or entities who no longer wish to remain registered under the GST system. This may be due to a variety of reasons, such as discontinuing the current business or profession, or simply no longer wishing to be a GST-registered person.
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Overview of GST Amendement
GST modification involves altering or amending the information provided during the GST registration process or on the GST certificate. In India, GST registration is compulsory for businesses below the threshold limit of Rs. 40 lakh (or Rs. 20 lakh for special category states). The GST registration certificate includes details like the business’s legal name, principal place of business address, additional places of business, and other pertinent information.
Modifications can be made to correct errors in the registration details or to switch between the composite and normal GST schemes, although switching from normal to composite isn’t possible. If errors are found in the registration information, Form GST REG 14 is used to initiate modifications.
However, if there’s a mistake in the PAN details provided during registration, modifications within the same GSTIN aren’t feasible. Instead, a new GST registration application must be submitted, and the existing GSTIN with incorrect PAN details needs to be surrendered.
It’s crucial to make any necessary changes or modifications promptly and within the stipulated timeframe. Core field modifications necessitate approval from the relevant jurisdictional officer, while non-core field modifications are automatically updated upon successful filing.
Advantages of GST Modification
| Rectify errors | GST Modification allows taxpayers to correct any errors made during the GST registration process |
| Update information | Businesses can update their information such as the legal name of the business, address of the principal place of business, additional place of business, and contact details |
| Shift from composite to normal scheme | GST Modification enables businesses to shift from a composite scheme to a normal scheme by updating the necessary information |
| Simplify compliance | GST Modification simplifies compliance by enabling taxpayers to make changes to their GST registration information without needing to apply for a new GST registration |
| Speed up processing | GST Modification is faster than applying for a new GST registration and allows businesses to update their registration information in a timely manner |
| Avoid penalties | By ensuring that the registration details are accurate and up-to-date, businesses can avoid penalties and non-compliance issues |
| Increased credibility | Accurate and up-to-date GST registration information increases the credibility of a business and instills confidence in customers, suppliers, and other stakeholders |
| Cost-effective | GST Modification is a cost-effective way for businesses to update their GST registration information without incurring the expenses associated with a new registration |
| Improved transparency | GST Modification enhances transparency by ensuring that the registration details are accurate and up-to-date, reducing the likelihood of fraudulent activities |
Registration Process
#1: A taxpayer must inform the tax authorities of any changes to their GST registration information within 15 days of the event leading to the modification.
#2: The taxpayer must file an application in Form GST REG 14, providing all required documents and a valid reason for the modification.
#3: The concerned officer will approve the application within 15 days after conducting due verification, and the modification will take effect from the date of the event.
#4: If the application is incomplete, incorrect, or not warranted, the officer will serve a notice in Form GST REG 03 requiring the applicant to submit additional information or clarification within 15 days.
#5: If the applicant provides acceptable information, the officer will approve the modification. If not, the officer will reject the application in Form GST REG 05.
#6: Modifications to the primary authorized signatory require the addition of a new signatory, and changes to the primary signatory details are not possible without fulfilling this condition. -There are different procedures for various types of modifications: 1)GST Modification in Registration Certificate 2)GST Modification to Business Name 3)GST Modification to Address 4)GST Modification to Mobile number or Email Address 5)GST Modification of promoter information 6)GST Modification in PAN requires the cancellation of the existing GST Registration in Form GST REG 16 and the submission of a fresh application for new GST Registration in Form GST REG 01.
Required Documents
#1. GST Certificate
#2. Documentary proof of changes, such as new address proof
Frequently Asked Questions
Yes, a taxpayer can apply for changes to their GST registration on the GST portal within 15 days of the need for any modification. The modifications will be processed through Form GST REG 06 after the approval of the amendment form GST REG 14.
Certainly, you can update your current GST certificate to include a new business address.
Overview of GST Cancellation
If you wish to cancel your GST registration due to inapplicability or business closure, Shlok Tax Wala can provide you with complete advisory services. Our expert team will guide you through the entire process of cancelling your GST registration, ensuring a hassle-free experience. Whether it’s due to a valid reason or any other circumstance, we can help you navigate the complex requirements of GST cancellation.
To cancel a GST registration, you must submit an application on the GST Common Portal in FORM GST REG-16 along with the required information. On submission of an application for cancellation of GST registration, the GST officer is required to verify the application and issue an order in FORM GST REG-19, within 30 days from the date of application. Shlok Tax Wala is a reliable business platform that provides end-to-end incorporation, compliance, advisory, and management consultancy services to clients in India and abroad. We offer a range of services, including GST registration, GST cancellation, free GST advisory, GST return filing, TDS return filing, trademark registration, and much more. We offer a simple, seamless, and cost-effective way to get GST registration in India. Get in touch with us to find out how to apply for GST registration, how to get a GST number, and the documents required for GST registration.
Advantages of GST Cancellation
| Benefits of Cancelling GST Registration | This heading highlights the positive outcomes of cancelling GST registration, such as reduced compliance burden and tax liability |
| Advantages of Withdrawing GST Registration | Similar to the first heading, this one emphasizes the benefits of ending your GST registration, such as avoiding GST penalties and simplifying your business processes |
| Reasons to Consider GST Cancellation | This heading presents some valid reasons why a business or individual may want to cancel their GST registration, such as the business becoming non-operational or the taxpayer no longer being eligible for GST |
| How Cancelling GST Can Help Your Business | This heading emphasizes the positive impact that cancelling GST can have on a business, such as saving time and resources and improving cash flow |
| Top Advantages of Ending Your GST Registration | This heading lists the top benefits of cancelling GST registration, such as reducing compliance costs and administrative burden |
| The Benefits of Getting Rid of GST Registration | This heading highlights the advantages of cancelling GST registration, such as eliminating the need to file GST returns and freeing up resources for other business activities |
| Why You Should Consider Cancelling Your GST Number | This heading emphasizes the importance of considering GST cancellation and outlines the benefits of doing so, such as simplifying business operations and reducing costs |
| Positive Impact of GST Cancellation on Your Business | This heading highlights the positive impact that cancelling GST can have on a business, such as reducing compliance costs and improving profitability |
Registration Process
The procedure for cancellation of GST registration is as follows:
#1. Log in to the GST portal using your login credentials.
#2. Go to the Services tab and click on the Application for Cancellation of Registration option.
#3. Fill in the required details, including the reason for cancellation.
#4. Submit the application along with the necessary documents.
#5. Once the application is submitted, the GST officer will verify it and issue an order of cancellation within 30 days.
#6. If the officer is satisfied with the application and documents, the GST registration will be cancelled, and the certificate of cancellation will be issued.
#7. If the officer is not satisfied, they may ask for additional documents or information, and the applicant must provide it within seven days.
#8. If the officer is still not satisfied, they may reject the application and provide reasons for the same.
Note that the cancellation of GST registration is a complex process and requires adherence to various rules and regulations. It is advisable to seek professional assistance from a reliable business platform like Shlok Tax Wala to ensure a smooth and hassle-free experience.
Required Documents
#1. PAN Card of the registered person
#2. GST registration certificate
#3. ID proof of authorized signatory
#4. Address proof of authorized signatory
#5. Bank account statement or a cancelled cheque of the account linked with the GSTIN
#6. Business closure certificate or closure affidavit
#7. Proof of the sale or transfer of business assets, if applicable
#8. GST returns filed up to the date of cancellation
#9. Any other document as may be required by the GST officer.
Frequently Asked Questions
Yes, it is possible to cancel a registration certificate. According to Section 29 of the CGST Act and Rule 20 of the CGST Rules, a taxpayer can request cancellation of registration using Form GST REG-16 under various conditions:
Business closure or discontinuance
Transfer of ownership due to an amalgamation, merger, de-merger, sale, lease, or other transaction
Change in organizational structure resulting in a change in PAN
Taxable person (including those who have voluntarily registered) is no longer required to be registered under GST
Sole proprietor’s death
Any other reason (to be specified in the application)
Within 30 days of the “occurrence of the event warranting the cancellation,” an application in Form GST REG-16 must be submitted.
If a registered person’s registration has been revoked suo moto by the appropriate authorities, they may file a GST REG-21 application for reversal of cancellation. They have 30 days from the date the cancellation order was served at the Common Portal to submit it.
GST REG 19: The GST officer may issue a formal order terminating the GST registration using the GST REG 19 form. This notice must be delivered within 30 days of the application date or the response date to the GST REG 18 form.
In cases where a Show Cause Notice (SCN) has been issued by the system due to non-filing of Returns/Statements, proceedings for cancellation of the GSTIN will automatically cease once all the required returns have been filed. Subsequently, your status will transition from “Suspended” to “Active.