Businesses Can Now Cancel Registration On GSTN Portal

Posted By:
Subscribe to GoodReturns

Businesses which have migrated to the GST regime but wish to cancel their registration can do so now on the GSTN portal. The utility named 'Cancellation of Registration of Migrated Taxpayer' has been launched today on the GST Network (GSTN) portal, its CEO Prakash Kumar said.

There are over one crore registered taxpayers in Goods and Services Tax (GST) regime. These include over 72 lakh businesses which have migrated from the earlier excise, service tax or VAT regime, and 28 lakh fresh registrations.

Businesses Can Now Cancel Registration On GSTN Portal

"Migrated businesses with turnover up to Rs 20 lakh who have not issued invoice can cancel their registration on the portal now," Kumar said.

The utility REG 29 is available on the portal just below the profile section once a taxpayer logs into GSTN.

Since only over 50 lakh businesses on an average file returns every month, it is felt that there would be many businesses which do not need to file the return and pay taxes under GST regime, which kicked in from July 1. Businesses with turnover up to Rs 20 lakh are exempt from GST.

Read more about: gstn, gst
Story first published: Thursday, October 26, 2017, 12:54 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'


Get Latest News alerts from Goodreturns