Businesses can now cancel registration on GSTN portal

     Written by : SMTV24x7 | Fri, Oct 27, 2017, 11:30 AM

Businesses can now cancel registration on GSTN portal

Mumbai Oct 27: In a yet another move to grant relief for taxpayers a new facility has been added to GSTN which enables businesses which have migrated to the new tax regime but wish to cancel their registration on the GSTN portal.

GSTN CEO Prakash Kumar said that "The utility named 'Cancellation of Registration of Migrated Taxpayer' has been launched today on the GST Network (GSTN) portal".

He added that "migrated businesses with turnover up to Rs 20 lakh who have not issued invoice can cancel their registration on the portal now.The utility REG 29 is available on the portal just below the profile section once a taxpayer logs into GSTN."

Currently, 1 crore taxpayers have registered 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.

Currently, business below Rs 20 crore are exempt from GST and they need not file the return.