Understanding GSTR-10: The Final Return after GST Registration Cancellation

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If you are a registered taxpayer under the Goods and Services Tax (GST) regime in India, you must be familiar with the various GST returns that need to be filed. The Final Return, commonly known as GSTR-10, is one such return.

Let’s take a closer look at GSTR-10’s meaning, purpose, format, filing date, and filing process.

What is GSTR-10?

GSTR-10 is the final return that needs to be filed by a taxpayer whose GST registration is either cancelled or surrendered. It is applicable to individuals or entities that were registered under the GST but have ceased to carry out business operations. Essentially, GSTR-10 is a way for taxpayers to wrap up their GST obligations and provide the final details of their activities under the GST regime.

GSTR-10 filing purpose

The primary purpose of filing GSTR-10 is to ensure that all liabilities and credits under the GST framework are settled before the cancellation or surrender of registration. It allows the tax authorities to have a comprehensive record of the taxpayer’s final GST liabilities, assets, and ITC (Input Tax Credit) claims. By filing GSTR-10, taxpayers can bring closure to their GST compliance requirements.

GSTR-10 format

GSTR-10 follows a specific format, which includes various sections and fields that need to be filled out accurately. An outline of the format is provided below:

Basic details: This section requires the taxpayer to provide their GSTIN (Goods and Services Tax Identification Number) along with their legal name.

Outward supplies: Here, the taxpayer needs to furnish details of any taxable outward supplies made during the period between the last return filed and the effective date of cancellation or surrender.

Inward supplies: This section captures details of any taxable inward supplies received during the same period as mentioned above.

ITC (Input Tax Credit): Taxpayers are required to provide the details of any remaining ITC that has not been utilised or reversed.

Liabilities: This section involves reporting the tax liabilities on outward supplies, inward supplies liable to reverse charge, and any other liabilities.

Payment of liabilities: Taxpayers need to mention the amount of tax paid against the liabilities reported in the previous section.

Refund claims: The taxpayer may request a refund in this section if there is any remaining tax or ITC that was paid in excess.

Also Read: How to file GSTR 9C Offline utility – General issues faced and how to solve them

Filing Date and Process

The GSTR-10 filing date is within three months from the date of cancellation or the date of the order of cancellation, whichever is later. It is crucial to adhere to this deadline to avoid any penalties or compliance issues.

To initiate the GSTR-10 filing process, taxpayers need to visit the GST portal (www.gst.gov.in) and log in using their credentials. From there, they can navigate to the “Returns” section and select GSTR-10. The portal’s user-friendly interface makes it easy to fill in the required details in the prescribed format. After all the information is entered accurately, the taxpayer can preview the return, make any necessary corrections, and then proceed to submit it.

Once the return is successfully submitted, an acknowledgment receipt is generated, which serves as proof of filing. Taxpayers should retain this receipt for future reference and record-keeping purposes.

To sum up, the GSTR-10 is an important return that taxpayers must submit after canceling or giving up their GST registration. Taxpayers can assure compliance with the GST legislation and efficiently complete their GST duties by comprehending the objective, structure, filing date, and filing procedure.

CaptainBiz can be your dependable partner, whether you lack familiarity with the GSTR-10 filing process or simply prefer expert support to simplify your GST compliance. It provides cloud-based online billing software made to meet your demands, guaranteeing a smooth process from beginning to end.

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Kiran Jagadale
I am a seasoned marketer specializing in Tax, Finance, and Digital. I bring a wealth of hands-on experience to demystify complex subjects, providing insightful guidance for entrepreneurs, finance enthusiasts, and digital marketers alike.

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