GSTR-10 Return Filing Online Service

Every registered taxpayer in India is required to file GST returns based on their type of registration, turnover, and specific criteria under the Goods and Services Tax (GST) framework. GSTR-10 is a vital document for businesses as it represents the final GST return filed to declare the closure or cancellation of a GST registration. This filing informs tax authorities about the deregistration of a taxpayer and ensures compliance with GST laws.

Filing GSTR-10 is mandatory for taxpayers whose GST registration has been cancelled or surrendered. Whether initiated voluntarily or by the tax authorities, this document formalizes the conclusion of a taxpayer’s GST obligations. It allows businesses to settle their final tax liabilities and ensure a clean exit from the GST system without future liabilities or penalties.

What is GSTR-10?

GSTR-10, also referred to as the Final Return, is a GST return required to be filed by taxpayers who have surrendered or had their GST registration cancelled. This document ensures that businesses comply with GST regulations during the deregistration process by reporting any remaining stock, tax liabilities, or unused Input Tax Credit (ITC).

Key Features of GSTR-10

• It must be filed within three months (90 days) of the effective date of cancellation or surrender of GST registration.
• It applies to all taxpayers whose registration has been voluntarily cancelled or cancelled by the authorities, barring specific exceptions.
• It contains details like tax liabilities, stock held, ITC claimed, and the reason for deregistration.

Filing GSTR-10 ensures that businesses provide tax authorities with a complete declaration of their status, helping close the GST registration seamlessly and avoid future disputes or penalties.

Who Needs to File GSTR-10?

GSTR-10 must be filed by:

1. Taxpayers who have voluntarily applied for cancellation of their GST registration.
2. Taxpayers whose GST registration has been cancelled by tax authorities.
3. Taxpayers who have not conducted any business during the period between cancellation and the date of filing but are still registered under GST.

It is important to note that GSTR-10 is mandatory even for businesses with no pending tax liabilities or unused Input Tax Credit. Businesses that fail to comply risk penalties, interest charges, or legal consequences.

Documents Required to File GSTR-10

Filing GSTR-10 requires specific details and documentation to ensure a smooth and error-free process.

Basic Details

• Taxpayer’s name, address, and GSTIN (Goods and Services Tax Identification Number).

Details of Input Tax Credit (ITC)

• Information about ITC availed on goods and services in possession as of the cancellation date.

ARN of GST Cancellation Application

• Application Reference Number generated upon submitting the GST cancellation request on the GST Portal.

Effective Date of Cancellation

• The date from which GST registration is considered cancelled or surrendered.

Unique Cancellation Order ID

• The unique identifier assigned by tax authorities during the cancellation order issuance.

Stock Details

• Information about inputs, semi-finished goods, and finished goods held by the taxpayer on the date of cancellation.
• Details of tax paid on these goods.

Outstanding GST Liabilities

• Disclosure of any pending GST liabilities, including interest and penalties, if applicable.

GST Payment Challans

• Proof of GST payments made against pending liabilities, if any.

Bank Account Details

• For any potential refunds, the taxpayer must furnish valid bank account details.

Other Supporting Documents

• Any additional documents as requested by tax authorities.

Time Frame for Filing GSTR-10

Taxpayers must file GSTR-10 within three months (90 days) from the date of GST registration cancellation or surrender. Delayed filings attract late fees and penalties, which can accumulate rapidly. If a taxpayer’s GST registration has been cancelled by order of the tax authorities, they may need to file an alternative return, such as GSTR-11, instead.

Late Fees for Filing GSTR-10

Failure to file GSTR-10 within the stipulated deadline results in the imposition of late fees:

Fee Breakdown

• Rs. 100 per day (CGST)
• Rs. 100 per day (SGST)

The total penalty is subject to a maximum of 0.25% of the taxpayer’s turnover. Timely compliance is critical to avoid financial burdens and maintain a favorable compliance record.

Benefits of Filing GSTR-10

Filing GSTR-10 offers several advantages to taxpayers, ensuring that they comply with GST laws and maintain financial discipline:

Legal Compliance

• Filing GSTR-10 fulfills legal requirements and prevents penalties, interest charges, or compliance-related issues.

Avoids Penalties

• Filing on time helps avoid hefty late fees and ensures that the taxpayer closes their GST registration without outstanding liabilities.

Final Settlement

• It allows businesses to settle any pending tax liabilities, claim unused ITC, and deregister from GST seamlessly.

ITC Utilization

• Filing GSTR-10 ensures the taxpayer claims unused ITC, minimizing financial losses.

Enhanced Compliance Rating

• Timely filing contributes to a favorable compliance rating, which is essential for maintaining good standing with tax authorities.

Why Choose Mantra and Co for Filing GSTR-10?

At Mantra and Co, we simplify the GSTR-10 filing process, ensuring accuracy and compliance. Our platform and team of experts ensure that your return is filed seamlessly, saving you time and effort.

Convenience

• Our hassle-free online platform streamlines the filing process, enabling you to file GSTR-10 with minimal effort.

Accuracy

• We validate your data to eliminate errors and ensure that your return complies with GST regulations.

Time-Saving

• Mantra and Co provides timely reminders and ensures that your GSTR-10 filing is completed well before the due date.

Expert Guidance

• Our experienced professionals offer 24/7 support for all your GST-related queries, ensuring peace of mind.

Compliance Assurance

• Partnering with Mantra and Co helps businesses maintain a strong compliance record and avoid legal complications.

Whether you’re closing your GST registration or need expert advice on GST compliance, Mantra and Co is your trusted partner for all GST-related services. Reach out to us today to experience hassle-free GSTR-10 filing!