Purpose:

• To provide a final statement of stocks held by a taxpayer whose GST registration has been either cancelled or surrendered.
• To account for any Input Tax Credit (ITC) remaining in closing stock.
• To ensure proper closure of GST compliance for the taxpayer.

Applicability:

• Taxpayers whose GST registration has been cancelled or surrendered, either voluntarily or by the tax authorities.
• Not applicable to those who continue to be registered under GST.

Due Date:

• Must be filed within 3 months from the date of cancellation or the date of the cancellation order, whichever is later.
• Late filing attracts a penalty of Rs. 100 per day, up to a maximum of Rs. 5,000.

Information to Be Provided:

• Details of closing stock held on the day preceding the cancellation date.
• Value of closing stock.
• ITC involved in closing stock.
• Details of capital goods held on the cancellation date.
• Other relevant information as required by the GST authorities.

Filing Procedure:

1. Login to the GST portal using your GSTIN and credentials.
2. Go to "Services > Returns > Final Return."
3. Select "GSTR-10" and choose the relevant tax period.
4. Fill in the required information, including details of closing stock, ITC, and capital goods.
5. Review and submit the return.

Key Points:

• Non-filing of GSTR-10 can lead to penalties and potential legal complications.
• Seek professional guidance from Company Mitra for assistance with filing.
• It's crucial to maintain proper records of closing stock and ITC to ensure accurate filing.
• The final return should reconcile any outstanding ITC and tax liabilities.

Additional Information:

• GSTR-10 can be filed online only, not through offline methods.
• Corrections or amendments to GSTR-10 can be made within 30 days of filing.
• The GST authorities may conduct scrutiny or audits of GSTR-10, even after cancellation of registration.