What Is GSTR-10?

Understanding GSTR-10 for GST Filing

GSTR-10 is a final return that must be filed by taxpayers whose GST registration has been canceled or surrendered under the Goods and Services Tax (GST) regime in India. 

Key Features of GSTR-10:

1. For Cancellation or Surrendered Registrations:

GSTR-10 is specifically for taxpayers whose GST registration has been canceled or surrendered voluntarily.

It is a final return that taxpayers file to close their GST registration.

2. Single Filing Requirement:

Taxpayers are required to file GSTR-10 only once, upon the cancellation or surrender of their GST registration.

3. Final Declaration:

GSTR-10 requires taxpayers to provide a final declaration of their stock held on the date of cancellation or surrender of registration, along with details of liabilities and assets.

4. Details of Outstanding Liabilities:

Taxpayers must declare any outstanding tax liabilities, if applicable, including tax payable on stock held, and make payment accordingly.

5. Input Tax Credit (ITC) Adjustment:

Taxpayers are allowed to adjust any remaining input tax credit (ITC) against their liabilities before finalizing the return.

6. Verification and Declaration:

Taxpayers verify the correctness of the details provided in GSTR-10 and make a declaration regarding the accuracy of the information furnished.

 Key Sections in GSTR-10:

Part A: Basic details such as GSTIN, legal name, and trade name (if any) of the taxpayer.

Part B: Details of the stock held by the taxpayer on the date of cancellation or surrender of registration.

Part C: Details of outstanding tax liabilities, if any, including tax payable on stock held.

Part D: Details of input tax credit (ITC) availed and adjusted against liabilities.

Part E: Verification and declaration by the taxpayer regarding the correctness of the information provided.

 Benefits of GSTR-10:

Closure of GST Registration: GSTR-10 facilitates the closure of GST registration for taxpayers whose registration has been canceled or surrendered.

Final Declaration: Provides taxpayers with an opportunity to make a final declaration of their stock and liabilities before closing their registration.

Compliance Requirement: Helps taxpayers fulfill their compliance obligations under GST by filing a final return upon cancellation or surrender of registration.