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22 Apr

Legality of Form GST REG -17 for Cancellation of Registration in the light of Opportunity of bring heard

Cancellation of GST registration shall also put a complete halt to the business of the person as in absence of the availment of ITC, no one would like to purchase from him. Therefore, cancellation of GST registration is a huge penal provision of GST.

LEGALITY OF FORM GST REG -17 FOR CANCELLATION OF REGISTRATION IN THE LIGHT OF OPPORTUNITY OF BRING HEARD

GST registration is the basic and mandatory requirement for the business entities having a threshold turnover to run his business. The Section 29 of CGST Act, 2017 read with Rule 22 of CGST Rules, 2017 prescribes procedure and conditions under which GST registration can be canceled. Cancellation of GST registration implies that the person is no more entitled to avail the benefits of registration such as availment of ITC, transfer of ITC, claim of refund etc. While at the same time, all penalties/liabilities arising out of GST laws shall remain intact. Cancellation of GST registration shall also put a complete halt to the business of the person as in absence of the availment of ITC, no one would like to purchase from him. Therefore, cancellation of GST registration is a huge penal provision of GST.

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