The businesses have an opportunity to revoke their Goods and Services Tax (GST) registration cancellation by paying due taxes, interests and penalties. The government issued a deadline of June 30, 2023 to complete the revocation process.
GST is a tax imposed in India on the delivery of goods and services. Any individual or organisation that supplies goods or services in India and has a yearly revenue that exceeds a certain threshold is required to register for GST which can be done through the portal (www.gst.in).
As per the notification of the finance ministry, there will be no further chance to be given for the revocation. Also, businesses that have had their GST registrations cancelled before December 2022 and who have not yet requested the revocation of their cancellation may do so until June 20, 2023 by paying late fee of ₹1000 in form GSTR-10.
A registered person whose GST registration has been cancelled or surrendered is required to file GSTR-10. The return, referred to as the Final Return, must be filed within three months after the cancellation date or the date of the cancellation order, whichever comes first.
The process for revocation of GST registration cancellation :
It is significant to remember that the cancellation of a GST registration can only be reversed within a specific window of time. If the deadline has passed, the registration can only be obtained by submitting a new registration application.
For Fiscal Years 2022–2023 and forward, the government also announced a streamlined late fee for filing annual returns in Form GSTR–9 after the deadline for Micro, Small and Medium Enterprises (MSME) taxpayers having a turnover of up to Rs. 20 crore. It is because the MSMEs play an important role in the Indian economy and are a major source of employment generation.
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