GSTR – 10 Annual Return

GSTR-10 is a GST return form used for filing the final return by a taxpayer who is canceling their GST registration. This return is required to be filed within three months from the date of cancellation of GST registration or the date of the order of cancellation, whichever is later.

The key aspects of GSTR-10 include:

1. Filing Requirement:

   • GSTR-10 is to be filed only by businesses that have voluntarily canceled their GST registration or have had their registration canceled by the GST authorities.

2. Information Required:

   • Details of the stock held on the date of cancellation.
   • Information regarding the input tax credit (ITC) on stock and capital goods that the taxpayer might be required to reverse.
   • Return of any ITC previously claimed on stock or assets that are no longer in use.

3. Purpose:

   • The form allows the tax authorities to verify the final tax liabilities and input tax credit adjustments before cancellation.
   • It ensures that taxpayers have complied with the provisions related to stock and asset adjustments at the time of registration cancellation.

4. Penalties:

   • If a taxpayer fails to file GSTR-10, they may face penalties, and the process of cancellation may not be completed.

Taxpayers are required to file this form even if no taxable supplies are made during the period before cancellation.