Whether GST registration to be retained for an owned premises where the business is inoperative?

[Balaji Srinivasamurthy]

Dear experts,

I humbly request you to share an insight where a company owns a property and unfortunately closed down its operations, whether they need to surrender the GST registration or retain the registration based on its ownership? Sale of property is uncertain and so is GST payable on disposal.

AI Summary

GST registration cancellation: business discontinuation permits surrender; ownership of premises alone does not require retention.
Ownership of premises does not in itself require maintaining GST registration where business operations have ceased; an entity may seek cancellation under Section 29(1)(c) on business discontinuation. Sale of land or a completed building is excluded from GST, and if no other taxable supplies exist the registrant should complete outstanding compliances and surrender registration.