Q. WHAT IS GOODS & SERVICE TAX (GST) CLOSURE ?
To apply for cancellation of Registration with GST department is known as GST Closure.
Q. WHAT ARE THE PREREQUISITES FOR CLOSING THE GST ?
The Applicant should ensure that the following conditions should be fulfilled before filing the Closure:
- Either the business has been closed or applicability of GST is not bound.
- Proper monthly/quarterly/annually returns should have been filed before filing the Closure Application.
- Taxes should have been paid for last month, when GST was closed.