Eazy Startups

Cancelling your GST (Goods and Services Tax) registration is a big decision that impacts your company's operations. This tutorial thoroughly explains the eligibility requirements, procedure, and repercussions when and how to cancel your GST registration. If you are looking for GST Registration Online in India , reach out to a reputed company like Eazy Startups for assistance.   Let's delve into the topic:-   1. Reasons to Cancel GST Registration 2. Who Can Initiate GST Cancellation? 3. Procedure for Canceling GST Registration 4. Documents Required for Cancellation 5. Consequences of GST Cancellation   1. Reasons to Cancel GST Registration:   You may need to cancel your GST registration for several reasons. Examples of typical situations are:   ·          Business Closure : The selling or discontinuation of a business. ·          Business Structure Chang...

  When Income Tax Return Filing Online (ITR) may seem like a headache, it's an important duty that shouldn't be disregarded. Many people put off or avoid filing because they believe they can get away with it. However, the repercussions of failing to file your taxes may be more severe than you may imagine. If you fail to file your income tax return on time, you may experience the following consequences. 1. Late Filing Penalty 2. Interest on Unpaid Taxes 3. Loss of Refund 4. Loss of Carry Forward of Losses 5. Legal Consequences 6. Difficulty in Getting Loans 7. Impact on Visa Applications   1. Late Filing Penalty:   The late filing penalty is among the most obvious consequences of failing to file your ITR. Failure to file your return by the deadline can result in a fine of up to ₹10,000 from the Income Tax Department. The penalty increases with the date of filing. By submitting on time, you can simply prevent this needless expense.   2. Int...