This GSTR 10 guide will tell you everything there is to know about the Final GST return, including the form structure, how and when to file it, penalties, etc. GSTR 10 is the final return which is required to be filed by every taxpayer who has opted for cancellation of their GST registration.
What is GSTR 10?
GSTR 10 is different from the Annual GST Return. It is filed only one time and as the last GST return. Any registered taxpayer who opts to cancel their GST registration needs to file this return within three months from the cancellation date or the date on which the cancellation order was passed.
When to file Form GSTR-10?
The GSTR-10 is needed to be filed online, via the GSTN website, within 3 months from the cancellation date or the date on which the cancellation order was passed, whichever is later.
For instance, if a company decides to cancel their GST registration, for any reason, on 1st September 2018, they will have to their GSTR-10 by 1st December 2018.
GSTR 10 Due Date
The GSTR-10 Final Return is required to be filed within three months of cancellation or date of cancellation order only by a registered taxpayer who opts to cancel their registration.
For example, If the date of cancellation or order is 1st September 2018, GSTR-10 should be filed latest by 31st December 2018. then the last date to file GSTR 10 will be 31st March 2019.
What is the Penalty for not Filing GSTR-10?
The final GST return, GSTR 10, must be filed within three months from the cancellation date. If a taxpayer has got the cancellation order but fails to file the return within the given time frame, he/she will receive a notice granting 15 days additional time to file the return and submit all the required documents. If they fail to submit their final return even after 15 days period or provide any response to the notice, then the respective tax officer will release a final notice of cancellation providing details of due GST payable along with penalty/fee/interest amount if any.
In order to avoid paying penalty or interest, it is recommended for all taxpayers who have cancelled their GST registrations to file their GSTR-10 returns within the due date.
Latest Update: “Seeks to grant waiver/reduction in late fee for not furnishing FORM GSTR-10, subject to the condition that the returns are filled between 22.09.2020 to 31.12.2020”. Read Notification
What Details are Included in GSTR-10?
GSTR-10 is similar to a standard GST return. It will include details of the taxpayer’s business, cancellation date & order, tax liability, etc.
The following details must be provided in GSTR-10:
1. GSTIN of the taxpayer : This is the GST Identification Number of a registered taxpayer or business.
2. Legal Name of the person who has applied for cancellation
3. Business Name for which registration is cancelled.
4. Address: Official registered address of the business entity.
5. Application Registration Number of GST registration surrender application
Application Registration Number or ARN as mentioned on the cancellation order passed by higher authorities.
6. Effective Date of GST registration surrender/cancellation (DD/MM/YYYY)
Enter the date of cancellation of registration, as mentioned in the said order, in the prescribed format.
7. If GST cancellation order has been passed
Mention whether the taxpayer has received the GST cancellation order or not.
8. Unique ID of the cancellation order
If the cancellation order has already been passed, mention here the unique order ID.
9. Date of Cancellation Order (DD/MM/YYYY)
Mention here the date on which the cancellation order was issued, in the prescribed format.
10. Closing Stock held on the date of surrender or cancellation
Here, the taxpayer is required to provide details of their closing stock at the time of GST cancellation, including the credit details, inputs, etc.
- Inputs as such
- Inputs in semi-finished goods
- Inputs in finished goods
- Input services
- Capital goods
10A. Amount of tax payable on closing stock
This will include the credit and GST amount to be paid at the time of closing. It will auto-populate based on the details furnished in the above columns.
The taxpayer is required to provide a digital signature at the end of the document verifying all the information provided by them in the GSTR-10 return.