Sundance 2024 Cancelled Suo-Moto. When registration for the goods and services tax (gst) is canceled suo moto, it means at the tax officer’s own initiative. This unilateral decision by a gst officer requires substantial reasons backed by the provisions outlined under section 29 (2) of the cgst act.
Suo moto cancellation of gst registration means cancellation of registration under gst laws by the tax officer on his motion. Suo moto cancellation is a significant action that impacts the taxpayer’s ability to operate under the gst regime legally.
When A Taxpayer Applies To Have Their Registration Canceled, Or A Tax Officer Initiates Cancellation “Suo Moto,” The Gstin Will Show As “Suspended.”.
Suo moto cancellation must have a proper reason, as stated in section 29 (2) of the cgst/sgst act, and goods and service tax registration cannot be cancelled without issuing a show cause notice to the assessee and providing the assessee with a proper opportunity to be heard via tax officer.
Suo Moto Cancellation Has Been Initiated By The Tax Official:
Read on to learn all about suo moto gst cancellation in this blog.
In the article entitled ‘ cancellation of registration under gst’ published on 04.05.2018 in the tmi discusses the general procedure for cancellation of registration by the tax officers, revocation of cancellation of registration.
The Gst Registration Can Be Canceled Suo Moto In Case Of The Following Contraventions By The Registered Persons.
When a taxpayer applies to have their registration canceled, or a tax officer initiates cancellation “suo moto,” the gstin will show as “suspended.”.