GST FAQ's on Cancellation of GST Registration in India

 

1. I have discontinued my business now. Can I cancel GST registration?

Ans. Yes, on discontinuation of Business, GST registration can be cancelled.

    2. One of our partners expired and we need to cancel the registration of GST? Is it possible or not?

Ans. If any of the partners died, the cancellation of GST registration is possible.

3. We have stopped our business activities in India. Can we cancel GST registration?

Ans. Yes, if you have discontinued your business activities, the GST registration can be cancelled with the authorities.

4. Our business activities got transferred to another location. Is cancellation of GST registration possible?

Ans. Yes, if you relocate your business, the GST registration can be cancelled.

5. We have voluntary registered with GST and obtained GST registration number. However, we have not commenced business even after six months of date of GST registration. What happens to my GST registration?

Ans. GST registration gets cancelled, if a person who has taken voluntary registration under sub-section (3) of section 19 has not commenced business within six months from the date of registration.

6. Our firm amalgamated with other legal entity. Should we continue with previous GST registration?

Ans. No, If a business amalgamated with another firm, the registration of such GST can be cancelled.

7. If a business concern has demerged, is cancellation of registration of GST possible?

Ans. Yes, demerged business concern may cancel GST registration by applying with concerned authorities.

8. We have made changes in constitutions of business activities and would like to cancel present GST registration. Is it allowed?

Ans. The cancellation of GST registration is allowed if change in the constitution of the business.

9. I am a taxable person, other than the person registered under sub-section (3) of section 19. Do I need to be registered under schedule 3 of GST Act?

Ans. The taxable person, other than the person registered under sub-section (3) of section 19, is no longer liable to be registered under Schedule III.

10. If a registered taxable person has contravened such provisions of the Act or the rules made thereunder as may be prescribed, how is GST registration treated?

Ans. If a registered taxable person has contravened such provisions of the Act or the rules made thereunder as may be prescribed, the GST registration is treated as cancelled.

11. We pay tax under section 8. However, we have not submitted returns for three consecutive tax periods. What happens to our registration of GST?

Ans. If a person or firm paying tax under section 8 has not furnished returns for three consecutive tax periods, such GST registration gets cancels automatically.

12. I am tax person other than a person specified in clause (b). I have not furnished GST returns for a continuous period of six months. What happens to my GST registration?   

Ans.If a taxable person, other than a person specified in clause (b), has not furnished returns for a continuous period of six months, the GST registration of such taxable person gets automatically cancelled.

   13. GST registration has been obtained by means of fraud, wilful misstatement or suppression of facts. How is such registration of GST treated?

Ans. Where any registration has been obtained by means of fraud, wilful misstatement or suppression of facts, the proper officer may cancel the GST registration with retrospective effect, subject to the provisions of section 29.

 

Benefits of MSME Registration.

Benefit of MSME Registration.

1. Protection against delay in payment.
2. Fast resolution of disputes
3. Collateral Free loans from bank
4. Exclusive consideration for participating in international trade fair
5. Octroi benefits
6. Waiver of Stamp duty and Registration fees
8. Barcode registration subsidy
9. Subsidy on NSIC Performance and Credit ratings
10. Counter Guarantee from GoI through CGSTI
11. Reduced rate of interest from banks
12. 15% subsidy under CLCSS scheme for technology upgradation
13. Exemptions while applying for Government tenders
14. Concession in Electricity Bills
15. Reimbursement of payment made for obtaining ISO certification
16. 1% exemption in interest on OD
17. Increasing eligible loan limit for optimal reasons, from the amount of Rs. 25 lakh to Rs. 50 lakh
18. Raising the extent of guarantee cover from 75 % to 80 %
19. Reservation of products for exclusive manufacturing by MSME/SSI
20. Easier registration and approvals to obtain Licenses
21. Eligible for IPS subsidy
22. Preference in allocation of Government tenders
23. Excise Exemption Scheme
24. Reduced rate of interest from banks
25. 50% subsidy for patent registration.

DECLARATION UNDER RULE 8(2)(b)(xiii) OF COMPANIES INCORPORATION RULES, 2014.

DECLARATION UNDER RULE 8(2)(b)(xiii) OF COMPANIES INCORPORATION RULES, 2014.

Date:

We the Promoters (Applicants) of the Proposed Company named “______________Forex Private Limited” Or “_________Forex Private Limited” have applied for the Name reservation with the Central Registration Centre Under the Reserve unique name (RUN) Service vide SRN No.: ____________ Dated:______________ having business object of Full Fledged Money Changers, Authorized dealers of all foreign currencies and activities related to it as main activity.

Herewith, we declare that the proposed company will not commence the business without prior permission of concerned authority i.e. Reserve Bank of India. 

___________________                           _____________________

Promoter                                         Promoter

CLARIFICATORY LETTER

CLARIFICATION LETTER

To

The Central Registration Centre (CRC)

Delhi.

Sub. : Resubmission Application for Name Approval with Declaration Letter for word “Forex”.

Ref.    : SRN ___________dated February 26, 2019

With reference to the above mentioned subject, we would like to state and submit that we have made an application in Reserve Unique Name (RUN) Service for availability of name for registration of Private Limited Company viz., _____________PRIVATE LIMITED vide SRN: __________dated February 26, 2019 on MCA Portal. Please note that we have been asked to re-submit through RUN Service, stating a reason that Company’s Name includes the word FOREX. So we need to provide Declaration from the promoters to take necessary approvals from the Authority i.e. RBI after the incorporation of the above mentioned Company. The Declaration has been enclosed here.

In lieu of the above reference, we would request your good office to consider our Name availability application and grant us the name applied for.

Yours sincerely,

…………………………

Promoter

Encl: 

Today, Narendra Modi puts humble postman back in an important position

Prime Minister Narendra Modi gave a big boost to financial inclusion today at Talkatora stadium in Delhi as he launched India Post Payments Bank (IPPB). The payments bank will ride on the vast network of the postal department to provide financial services to the common people. Modi also launched 650 branches and 3,250 access points of the postal department across the country. 

To simplify banking, PM Modi also launched the India Post Payment Banks mobile application. Addressing the gath .. 

Read more at:
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NO OBJECTION LETTER

Date -

To,

The Centralized Registration Centre

Ministry of Corporate Affairs,

Government of India, New Delhi

SUB:    NO OBJECTION FOR THE USE OF THE NAME “NAME” (TO BE USED) FOR INCORPORATION OF NEW COMPANY

Dear Sir,

With reference to the Captioned subject, I, ____________, Director of “Name of the Registered Company“ would like to inform that “Name of the New Company under Incorporation.”

being applicant of Trade Mark application No. _________ of brand “NAME” (TO BE USED) under Class 36 hereby tender No Objection on behalf of the Company, if the word “NAME” (TO BE USED) used by the proposed Company be made available to the applicants by the Central Registration Centre (CRC), New Delhi, Gujarat for incorporation of a Company.

For, Name of the Company

_______________

                                               

DIRECTOR                                        

DIN :                                                  

Board Resolution for No Objection to use Registered TradeMark

CERTIFIED TRUE COPY OF THE RESOLUTION PASSED AT THE MEETING OF THE BOARD OF DIRECTORS OF (NAME OF THE COMPANY) HELD ON (DAY, DATE MONTH, 2018) AT (_______ AM/PM) AT THE REGISTERED OFFICE OF THE COMPANY SITUATED AT (ADDRESS OF REGISTERED OFFICE)

---------------------------------------------------------------------------------------------------------------

The following resolution was passed for giving No Objection Certificate to the Central Registration Centre (CRC), New Delhi, India for obtaining the availability of name and incorporation of “NAME” (TO BE USED) or any other similar name starting with “NAME”(TO BE USED) as prefix for the Proposed Company being incorporated in India. :

“RESOLVED THAT consent of the board be and is hereby accorded for having no objection for use of words “NAME”(TO BE USED)which is registered as Trademark under Class ____ in the name of the “Name of the Registered Company“ for incorporation of   new company named as “Name of the Registered Company”.

“RESOLVED FURTHER THAT copy of this resolution be forwarded along with the No Objection Certificate for the purpose of keeping of resemble name for “Name of the New Company under Incorporation.”

RESOLVED FURTHER THAT any Director of the Company be and is hereby authorised to give necessary letter / confirmation / form to provide Registrar of Companies, New Delhi,  ‘No Objection Certificate’ for similar name and generally to do all such acts, deeds, matters and things as may be necessary in this regard”.

Date:                                                     CERTIFIED TO BE TRUE

Place:                                                     For, Name of the Company

                    ____________

Director

D GOKANI & CO.                                                

(Practicing Company Secretaries)

========================================================================

Our firm is providing following types of services, Compliance module for Private, Public and Listed Companies and Limited Liability Partnership, with quality services and time bound assignment. Please feel free for any clarification.

Company Secretarial Services

• Incorporation of Private and Public companies, limited by shares or guarantee, unlimited companies, their conversions and re-conversions.

• Alterations, modifications and changes with respect to the names of companies, objects, share capital, situation of registered office, amendments and alterations in the Memorandum and Articles of Association.

• Allotment, consolidation/sub-division of shares, share transfer and transmission, conversion of shares into stocks or warrants, issue of shares certificates, dematerialization of shares, forfeiture of shares etc.

• Changes with respect to appointment, re-appointment, regularization, resignations, fixation and revisions of the remunerations of Directors, Managers, Company Secretary, Compliance officer, etc.

• Procedures relating to Board Meetings, General meetings including the pre and post meeting formalities such as notice for the meetings, preparing resolutions, minutes, etc.

• Procedural compliances with respect to the induction and expulsion of members, variation in membership rights.

• Preparation of Annual Reports.

• Procedural requirements for creation, modification and satisfaction of charges and registration thereof by the Registrar of Companies.

• Invitation, acceptance and renewal of public deposits, repayment of deposits and payment of interest.

• Procedure for ascertainment, declaration and payment of interim and final dividend; management of unpaid and unclaimed dividend.

• Maintenance of statutory books and registers as per the provisions of the Companies Act, 2013.

• Procedures and compliances related to making inter-company loans, investments, guarantees, and providing of securities.

• Filing of the documents including the forms and the returns with the Registrar of Companies.

• Registration of the documents with the Registrar of companies.

• Appearing before Tribunal, SAT and other various Authorities.

Any other matter related to working and administration of company law including any new

Developments

OTHER SERVICES

·         APEDA Registration

·         IEC Application

·         Registration of Firm(ROF) 

·         Formation of Limited Liability Partnership, Preparing LLP Deed. 

·         Conversation of LLP to Pvt. Ltd or Public Ltd

·         Annual Returns of LLP  with ROC

·         Income Tax Return

·         GST Return.

·         Project Finance, Home Loans, Mortgage Loans, etc.

We look Forward to a Wonderful Relationship together and Success for all Concerned.

Thanks & Regards 

D Gokani & Co.