GSTR-10 FINAL RETURN
GSTR 10 is a return to be filed by taxpayers whose GST Registration has either been surrendered by the taxpayer or has been canceled by authorities. This return is intended to provide details of ITC involved in closing stock (including inputs and capital goods) to be reversed/ paid by the taxpayer.
(B) Due Date for Filing the final Return
Taxpayers who have opted to surrender their GST registration or whose registration has been canceled have to file GSTR-10 Final Return within
(a) three months of application of cancellation or
(b) date of cancellation order,
whichever is later.
(C) Who can file Form GSTR-10?
GSTR-10, under section 45, is required to be furnished by a taxable person whose registration has been surrendered or cancelled.i.e, ceases to do business either voluntarily or unwillingly (i.e.by an order by the authorities).
(D) EXEMPTION TO FILING OF GSTR-10
Form GSTR-10 is required to be filed by every taxpayer except:
(i) Input Service Distributor
(ii) Non-resident taxable persons
(iii) Persons required to deduct TDS u/s 51
(iv) Persons paying tax u/s 10 (Composition Taxpayer)
(v) Persons required to collect TCS u/s 52
(E) REVISION OF GSTR-10
Final Return/ Form GSTR-10 cannot be revised once filed.
(F) Proforma of Form GSTR-10
GSTR-10 generally consists of 10 sections which is explained below:
1. GSTIN (Goods and Services Taxpayer Identification Number)-
15 digit state-wise PAN Number which will be auto-populated when a tax payer selects to file GSTR-10
2. Name of the person/business liable to deduct the tax-
Both registered name of a taxpayer and legal name of the business establishment will be auto-populated when a taxpayer selects to file GSTR-10.
The company address submitted for GSTIN registration will be auto-populated at the time of system login. The above-mentioned sections will be auto-populated at the time of login.
4. ARN (Application Registration Number)-
If the application for the cancellation of the business is approved by tax authorities, ARN will be furnished here.
5. The effective date of cancellation / date of business surrender-
You need to fill the effective date of either cancellation of business or surrender of the business of GST registration as contained in the order.
6. If the order for cancellation has been passed?
Here, the taxpayer needs to be clearly specific whether business has been closed voluntarily or by force of authorities.
7. If yes, the Unique ID of cancellation order-
In case of forced cancellation, this heading needs to be filled up with unique identification number of cancellation order.
8. Date of cancellation order–
Date of issue of cancellation order needs to be furnished under this head
9. Details of closing stock / inventory-
The taxpayer needs to furnish the entire details pertaining to closing stock at that date of closure of his/her business. He/she should also mention input tax credit (ITC) relating to closing stock.
10. Taxable amount on closing stock / inventory-
Whatever tax you owe on the amount of your closing stock on the date of the closure of your business, is mentioned under this head.
Upon filling up all the sections of the GSTR-10, a taxpayer is required to declare the authenticity of the document and sign it electronically. Either this can be verified using a DSC or an Aadhaar based verification system.
(G) What is the Penalty for not Filing GSTR-10?
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