Various Aspect of GSTR-10 (Final Return)

1. What is GSTR-10?

GSTR-10 is the final return (Statement of Stock held at the time of Cancellation) to be submitted by the Taxpayers who has cancelled their registration by applying form REG-16 on GST Portal or ‘Suo Moto’ cancelled by the Department.

2. Latest Update on GSTR-10 waver of late fee:

as per Notification No. 68/2020 of Central Tax dated on 21-Sep-2020 ” Late fee attract on Late filing of GSTR-10 has been waved off ,if the Return Has been filed between 22th day of September, 2020 to 31st day of December, 2020.

3.Applicability :

This Return is mandatory for all category of Taxpayers even if no business or No stock held at the time of cancellation Except –

(i) Input Service Distributor.

(ii) Non-resident taxable persons.

(iii) Persons required to deduct tax at source (TDS) under section 51.

(iv) Persons paying tax under section 10 (Composition Taxpayer)

(v) Persons required to collect tax at source (TCS) under section 52.

Before filing of GSTR-10 all pending returns to be filed till the date of an order issued for cancellation of registration. Dues Should be clear in earlier returns or can pay while filing GSTR-10.

General Information:

(a) Once filed GSTR-10 it can’t be revised later.

(b) GST login will remain active till all formalities done after cancellation.

(c) GSTR-10 is different from Annual return , Taxpayer also need to file Annual return as per relevant provisions of the Act.

4. Timeline for Filing of GSTR-10:

Taxpayer should file GSTR-10 within three months from date when Cancellation is approved.

5. What details required to furnish in GSTR-10?

A. GSTIN (Auto filled as well).

B. Legal Name (Auto filled as well).

C. Business Name (Auto filled as well).

D. Address for Future Correspondence. This can be different from current address of business.

E. Application Reference Number for Cancellation (Auto filled as well).

F. Effective Date of Surrender/Cancellation as per Order Issued.

G. Mention the details of Stock held at the time of cancellation because taxpayer need to pay the Tax amount of Stock. This amount is Auto calculated by the Portal.

H. CA certificate is mandatory if details filed in Table 8D (Stock without Invoices).