My client, duly registered under GST, is engaged in supply of services and had a Turnover of more than 20Lakhs in FY 19-20.. Now he expects his turnover to be less than 20 lacs in the current FY 20-21. From 1.4.20 to 31.8.20 he has raised bills on B2B customers and has collected GST and paid it to Govt. Can he now surrender his GST regn in Sep 20. If not,can he do it on 1.4.21.
Kindly clarify
Thanking you,Ca M S Ramachandran, Mobile:9447776812
Client Can Surrender GST Registration Anytime if Turnover is Below 20 Lakhs, per Section 22 of CGST Act. A client registered under GST with a turnover exceeding 20 lakhs in FY 19-20 anticipates a turnover below 20 lakhs for FY 20-21. The client has collected and paid GST for services provided from April to August 2020. They inquire about surrendering their GST registration in September 2020 or April 2021. The response clarifies that GST registration can be surrendered anytime if the turnover is below the threshold, referencing Section 22 of the CGST Act. It notes changes in GST registration rules, specifically the removal of restrictions on voluntary cancellation prior to a year from registration. (AI Summary)
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