A taxable person whose GST Registration has either been surrendered by the taxpayer or has been canceled by authorities has to file a return in the form of GSTR-10. This return is also called as final return.synmac provide you the best gst return filing consultants in bangalore, chennai & delhi.
The ISD receives tax invoices The ISD receives tax invoices towards receipt of input services.
GSTR 10 must be filed within three months from the date of cancellation or date of cancellation order, whichever is later.
GSTR 10 is required to be filed only by the persons whose registration under GST has been cancelled or surrendered. The regular persons registered under GST are not required to file this return.
Annual return has to be filed by every registered person paying tax as normal taxpayer under GST. Annual return is to be filed once a year in Form GSTR 9.
Whereas Final return is required to be filed by the persons whose registration has been cancelled or surrendered in Form GSTR 10.
If the GSTR 10 is not filed within the due date, a notice will be sent to such registered person. The person will be given 15days time for filing the return with all the documents required. If the person still fails to file the return, the tax officer will pass the final order for the cancellation along with the amount of tax and interest/penalty payable.
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GSTR 10 has a total of 10 sections.
Following are the sections which will be auto-populated at the time of system login:
1. GSTIN
2. Legal Name
3. Business Name
4. Address
Below are the sections under which information needs to be furnished:
5. Application Reference Number: ARN needs to be furnished in case the application for cancellation has been approved by the authorities. In such cases, ARN will be communicated to the taxpayer at the time of passing the cancellation order.
6. Effective Date of Surrender/Cancellation: Here you need to mention the date of cancellation of GST registration as contained in the order.
7. Whether cancellation order has been passed: Taxpayer needs to specify whether the return is being filed on the basis of cancellation order or on a voluntary basis.
8. If Yes, Unique ID of Cancellation order: Unique ID will be provided by the authorities at the time of passing cancellation order.
9. Date of Cancellation Order: This will be the date on which the GST registration cancellation order is passed by the authorities.
10. Particulars of Closing Stock: Taxpayer needs to furnish details of closing stock held at the time of ceasing the business. Any amount of credit lying in such stock needs to be paid along with this return.
10A. Amount of Tax Payable on Closing Stock: As mentioned above, credit lying in input and/or capital goods needs to be paid to the administration. This amount is auto-computed under this head on the basis of the declaration of closing stock of goods.
Once all the particulars are furnished correctly, the taxpayer is required to sign digitally either through a digital signature certificate (DSC) or Aadhaar based signature verification to authenticate the return.
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