SUB GST p6.3

What is GSTR 10 & How to file GSTR 10?

6 May 2020

About:

GSTR-10 is a final return to be filed by all the taxpayers whose GST Registration is either surrendered by the taxpayer or gets canceled by the authorities. This is also called the final return, which is different from the annual return. This return is final return GSTR-10 and for the annual return, you have to file GSTR-9. Further, Form GSTR-10 is filed electronically through the GST portal or by a facilitation center as mentioned by the Commissioner. The basic purpose of filing this return is to ensure that the taxpayer pays for any liability outstanding.

You have to file the GSTR-10 within three months from the date of cancellation or date of cancellation order whichever is later.E.g. if the date of cancellation is 1-August-2020 then, this return must be filed by 31-October-2020. The regular taxpayers should not have to file this return. And once the GSTR-10 is filed then it cannot be revised.

Penalty if you do not file GSTR-10:

If a taxpayer is not filed GSTR-10 within the prescribed due date, a notice will be sent to such a person. The person now has 15 days to file the return with all the prescribed documents. And if he still fails to do so then the tax officer will pass the final order for the cancellation with the amount of tax due along with interest/penalty. 

What to file in GSTR-10?

There are 10 components in GSTR-10, out of which 4 details are auto-populated and remaining you have to fill. The components are mentioned below: 

• Component 1: GSTIN is Auto-populated.

• Component 2: Legal Name is Auto-populated

• Component 3: Business Name is Auto-populated.

• Component 4: The Address is Auto-populated.

• Component 5: ARN(Application Reference Number) needs to be furnished if the authorities have been approved the application for cancellation. In such cases, the ARN will be communicated to the taxpayer at the time of passing the order for cancellation.

• Component 6: Effective Date of Surrender / Cancellation section, in this you need to mention the date of the cancellation of GST registration which is mentioned in the order.

• Component 7: In this, you have to mention that whether the cancellation has been made by the order or it is canceled voluntarily by the applicant.

• Component 8: If the cancellation is made by the order then a Unique ID of Cancellation Order will be provided by the authorities at the time of passing the cancellation order.

• Component 9: If authorities have passed the order for cancellation then, you have to fill the Date of Cancellation Order column as this is the date on which the GST registration cancellation orders passed by them.

• Component 10: Now in this section applicants have to give the particulars of closing stock. The taxpayer needs to provide the details of closing stock which is held by him at the time of closing the business. Any amount of credit lying in such stock needs to be paid along with this return GSTR-10.

And there is one more section which has a sub-table which is  Table 10A. In this section, you have to mention the amount of tax payable on closing stock. As mentioned earlier, the credit lying in inputs needs to be paid to the administration.