📃 Can GST Registration be cancelled when Turnover is less than ₹20 lakhs?

Yes, GST registration can be cancelled if your turnover is less than ₹20 lakhs, provided you are not making inter-state supplies. Registration is mandatory for inter-state suppliers, except for service providers.

📄 Why would I wish to cancel or surrender my GST Registration?

GST registration may be cancelled under the following circumstances:

• The business has been discontinued.
• The business has been fully transferred, amalgamated, demerged, or otherwise disposed of. The transferee (or new company from amalgamation/de-merger) must get registered, while the transferor cancels its registration if it ceases to exist.
• There is a change in the constitution of the business (e.g., a private limited company has changed to a public limited company).

🔍 What happens after I apply for cancellation?After submitting your application for cancellation, the tax authorities will review it. If everything is in order, your cancellation will be processed, and you will receive a confirmation.

🕒 How long does it take to process the cancellation?The processing time for cancellation applications can vary but typically takes around **30 days** from the date of submission.

⚠️ Are there any penalties for cancelling my GST Registration?There are generally no penalties for cancelling your registration if you follow the proper procedures. However, ensure that all compliance requirements are met before applying for cancellation.