Recently GSTN portal comes up with the newly integrated option of cancellation of GST registration. A businessman involved in the new tax policy and wanted to cancel their GST registration can now do away with it by the option available in the GSTN portal. A new option has been given on GSTN portal to cancel the registration. Using it, the traders can easily cancel it.
According to Prakash Kumar, CEO of the GSTN portal, the cancellation option of the registration is kept for the migrated taxpayer. More than one crore taxpayers have registered in GST and out of these, 72 lakhs are taxpayers who have joined GST with earlier excise, service tax and VAT. Apart from these, there are 28 lakh businessmen who have made fresh registrations.
Read Also: GST Registration Online for New User on Govt GST Portal: Step By Step Procedure
The decision has been taken in the light of 20 lakh registered taxpayers who have not issued invoices. Kumar said that out of the registered traders, 20 lakhs are migrated businessmen who have not issued their invoices. He told that such traders have the option that they can cancel their registration if they don’t want to carry on further business activities. On GSTN portal you will get this option under profile and is built just below the ‘Utility REG 29’ profile section.
