Generally, it takes around 30 days in the process of GST surrender or cancellation
Yes, there is a major difference between GST Surrender and GST cancellation is that GST surrender is a voluntary action taken by the business person who wants to deactivate their registration number from the GST portal.
However, GST cancellation can be voluntary or be forced by the GST officer.
A taxable person whose GST registration is cancelled or surrendered has to file a return in Form GSTR-10 called as Final Return. This is statement of stocks held by such taxpayer on day immediately preceding the date from which cancellation is made effective. This return should be filed within three months of the date of cancellation or date of order of cancellation, whichever is later.
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.
Yes, it is mandatory to file Form GSTR-10 in cases when GST registration is cancelled or surrendered.
