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23 Effect of de-registration

 

23 Effect of de-registration
 
(1) Every person whose registration is cancelled shall pay in respect of all goods held on the
date of cancellation an amount equal to the higher of –
(a) the tax that would be payable in respect of those goods if the goods were sold at their
fair market value on that date; or
(b) the tax credit previously claimed in respect of those goods.
(2) Where the dealer has accounted for turnover on the basis of amounts received and
amounts paid, he shall include in the turnover of his final return -
(a) any amount not yet received in respect of sales made while he was registered; and
(b) any amount not yet paid in respect of purchases made while he was registered.

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Who We Are

GST India Solution is an effort of firm of professionals who welcome implementation of GST. This is an interactiveplatformthat aspires to disseminate right knowledge to professionals, practitioners and public at large. This platform has beenfloatedbya firm of Chartered Accountants relentlessly working in field of direct and indirect taxes since early 1985.

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Why

Goods & Service Tax


Our core competence is statutory compliance, advisory, corporate tax planning and appellate matters of direct and indirect taxesandcorporate training sessions on GST.

The senior partner of the firm has to his credit several professional publications viz., Delhi Sales Tax  Right to Use Goods Act, Delhi VAT, Maharashtra VAT, West Bengal VAT, Haryana VAT published by Taxmann. Madhya Pradesh VAT and Chhattisgarh VAT were published by Suvidha Law House, Bhopal. He has also addressed seminars on indirect taxes organized by professional bodies like ICAI, IMA, NIFM etc. and has also contributed articles on subjects of pro. . . . .

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