GSTR-10 Return Filing

Every registered taxpayer is required to file GST returns depending upon their type of registration, turnover, and other criteria. GSTR-10 is one such document used by businesses to file their final GST return. It is used to declare the closure or cancellation of registration of a GSTIN. This document helps inform the tax authorities about the cancellation of registration of the GSTIN and the deregistration of the taxpayer.

GSTR-10 must be filed by all taxpayers who have applied for GST registration but have not been granted the same. All registered taxpayers must also file GSTR-10 if they have cancelled their registration or have been cancelled by the tax authorities.

What is GSTR 10?

GSTR-10 is a return required to be filed by taxpayers who have surrendered or cancelled their GST registration. It is also known as the Final Return. GSTR-10 needs to be filed within three months from the date of cancellation or surrender of GST registration.

GSTR-10 is a one-page document that contains the following details:

• GSTIN of the taxpayer
• Date of cancellation or date of registration
• Reason for cancellation or deregistration
• Signature and name of the authorized signatory
• Contact details of the authorized signatory

Who needs to file GSTR 10 return?

Every taxpayer who has cancelled or surrendered their GST registration must file GSTR-10. Even if the taxpayer has yet to conduct any business activities during the period between the date of cancellation and the date of filing GSTR-10, they are required to file the GSTR 10 return.

Which documents are required to file GSTR-10?

• Basic details (name, address, and GSTIN)
• Input Tax Credit (ITC) details
• ARN of GST registration surrender application
• Effective Date of GST registration surrender/cancellation
• Unique ID of cancellation order
• Letter of GST registration cancellation
• Details of Inputs, Semi-Finished Goods, and Finished Goods
• Details of tax paid on Inputs, Semi-Finished Goods, and Finished Goods
• Details of stock in possession
• GST liability
• GST payment challans
• Bank account details
• Other supporting documents

What is the time frame for filing GSTR 10 return?

GSTR-10 must be filed within three months (90 days) of the date of cancellation or deregistration. If it is not filed within this timeframe, the taxpayer may be liable to pay the penalty. It is important to note that this GSTR 10 return cannot be filed if the registration has been cancelled due to the order of the tax authorities. In such cases, the taxpayer must file a different return known as GSTR-11.

What is the GSTR 10 late fees for not filing the form on time?

If the taxpayer fails to file GSTR-10 within the due date, they are liable to pay GSTR 10 late fees of Rs.100 CGST and Rs.100 SGST per day, subject to a maximum of 0.25% of the taxpayer's turnover.

What advantages come with filing GSTR-10?

• Compliance
• Avoid interest and penalties
• Closure of registration
• Input Tax Credit
• Compliance rating

Benefits of filing GSTR-10 through Global Taxman:

• Convenience: Filing GSTR-10 through Global Taxman is a hassle-free process. Our user-friendly platform is simple to use, ensuring that the procedure is carried out efficiently and correctly.
• Accuracy: Global Taxman ensures accuracy by validating the data entered in the GST return forms to avoid mistakes when filing the return.
• Time-Saving: Global Taxman helps to save time by allowing taxpayers to file their GSTR-10 return with just a few clicks. We send out timely reminders to taxpayers to ensure the return is filed before the due date. Additionally, we ensure the on-time delivery of filing-related documentation.
• Professional Assistance: Global Taxman offers round-the-clock support from experienced professionals who are available to assist with any queries or issues related to filing GSTR-10 returns.