GSTR - 10

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A taxable person whose GST registration is cancelled or surrendered has to file a return in Form GSTR-10 called as Final Return. This is statement of stocks held by such taxpayer on day immediately preceding the date from which cancellation is made effective.

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GSTR-10 Final Return Filing: Everything You Need to Know

GSTR-10 is a crucial return required to be filed by businesses whose GST registration has been cancelled or surrendered. It serves as the final return and informs tax authorities about the closure or cancellation of GST registration. Filing this return ensures that the taxpayer complies with the law and clears any outstanding obligations.

What is GSTR-10?

GSTR-10 is known as the Final Return and must be filed by businesses whose GST registration has been cancelled. The form must be filed within three months (90 days) from the date of cancellation or surrender of GST registration. It is an important document for the business to confirm the cessation of its GSTIN (Goods and Services Tax Identification Number) and to ensure that there are no outstanding tax liabilities.

Eligibility for Filing GSTR-10

The following categories of taxpayers are required to file GSTR-10:

Businesses with Canceled GST Registration: Taxpayers whose GST registration has been canceled by the GST authorities must file GSTR-10.
Voluntarily Canceled Registration: Even if a taxpayer voluntarily cancels their GST registration, they are still required to file GSTR-10 to officially close the registration and declare any final liabilities.

Documents Required for Filing GSTR-10

Document	Description
GSTIN	The taxpayer’s Goods and Services Tax Identification Number.
GST Registration Cancellation Order	A copy of the cancellation order from the tax authorities.
Input Tax Credit (ITC) Details	Information regarding unclaimed ITC on stock, inputs, semi-finished goods, and finished goods.
Stock Details	Complete details of stock available as of the cancellation date.
Tax Payment Details	Copies of GST payment challans for any outstanding taxes due.
Bank Account Details	Details for any refund claims and transactions.

How to File GSTR-10?

Filing GSTR-10 is a step-by-step process that can be done through the GST Portal. Here’s the process:

Login to the GST Portal
Navigate to Services > Returns > GSTR-10
Provide necessary details including reason for cancellation and outstanding liabilities
Submit the application using Digital Signature Certificate (DSC) or Electronic Verification Code (EVC)
Track the status of your application using the ARN (Application Reference Number)

Important Timeframes and Deadlines

Event	Timeframe
GSTR-10 Filing Deadline	Within 3 months (90 days) from the date of cancellation or surrender.
Late Fee	Rs. 100 CGST and Rs. 100 SGST per day, up to a maximum of 0.25% of turnover.
GST Refund	Bank details must be provided for any refund claims, and it will be processed after GSTR-10 filing.

Advantages of Filing GSTR-10

Filing GSTR-10 on time provides several benefits:

Compliance: It ensures you are in compliance with GST laws and avoid penalties.
Clearance of Liabilities: It helps settle any outstanding liabilities and avoids legal consequences.
Input Tax Credit (ITC) Adjustment: It allows for the adjustment of any ITC that may still be applicable to your business.
Proper Closure of GST Registration: Filing GSTR-10 effectively ends your GST registration and ensures that you do not face future liabilities under the same GSTIN.
Maintaining a Good Compliance Rating: Timely filing of GSTR-10 helps maintain a good compliance rating with the GST authorities.

What Happens if You Don’t File GSTR-10 on Time?

Failure to file GSTR-10 within the specified period can lead to the following:

Late Fee: Rs. 100 CGST and Rs. 100 SGST per day, with a maximum of 0.25% of turnover.
Penalties: A penalty could be levied for non-compliance or missed deadlines.
Legal Consequences: If you operate without filing GSTR-10 after your GST registration is cancelled, you may face legal actions.

Why Should You File GSTR-10 Through a Professional Service Provider?

Filing GSTR-10 can be complex, and having a professional service provider can save time and ensure compliance. Here’s why you should choose Hiva Professionals:

Expert Guidance: Hiva Professionals provide expert assistance in preparing and filing the GSTR-10 return, ensuring accurate filing.
Complete Documentation Support: We help you gather, prepare, and submit all the necessary documents required for GSTR-10.
Avoid Penalties: Our services reduce the chances of errors, penalties, and late fees, ensuring timely filing and compliance.
End-to-End Service: From initial consultation to the final filing, Hiva handles every aspect of the GSTR-10 process for you.

Common Mistakes to Avoid When Filing GSTR-10

Mistake	How to Avoid
Incorrect Data Entry	Double-check the information before submitting to avoid errors.
Failure to File on Time	Keep track of deadlines and file your return well within the 90-day period.
Incomplete Documentation	Ensure that all required documents are gathered and ready for submission.
Failure to Clear Pending Returns	Make sure all previous returns are filed before applying for GSTR-10.

Frequently Asked Questions (FAQs)

What if my GSTR-10 application is rejected?
If rejected, you can appeal or make necessary corrections and reapply.
Can I file GSTR-10 after the 90-day deadline?
You may request an extension from the tax authorities if applicable.
Can a tax consultant file GSTR-10 on my behalf?
Yes, authorized professionals like Hiva can file the return on your behalf.
How long does it take for GSTR-10 to be processed?
Processing typically takes 30 days after submission, depending on the completeness of your application.

Conclusion

Filing GSTR-10 is essential for businesses whose GST registration has been cancelled or surrendered. It ensures that all liabilities are settled, and no further actions are pending. If you want to ensure timely and accurate filing, choose Hiva Professionals for expert assistance in handling the entire process.