GST Cancellation & Revocation
GST cancellation in India occurs when a taxpayer’s registration is terminated due to business closure, inactivity, or violations. Revocation is the legal process to restore registration by fulfilling prescribed conditions and submitting an application within the specified timeframe.
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Overview
GST Cancellation & Revocations in India
Goods and Services Tax (GST) is a major indirect tax system in India, and every business registered under GST must follow specific rules. Sometimes, a GST registration may need to be canceled or revoked. GST Cancellation happens when a taxpayer wants to stop their GST registration because they have closed their business, shifted to a non-taxable category, or their turnover is below the threshold limit. The taxpayer or the tax authorities can apply for cancellation. Once canceled, the taxpayer must settle all pending tax dues and file final returns.
On the other hand, GST Revocation refers to restoring a canceled GST registration. This usually happens when the cancellation was done by tax authorities due to non-compliance, such as not filing returns or paying taxes on time, but the taxpayer wants to continue business legally. The taxpayer can apply for revocation within 30 days from the date of cancellation order. The authorities may approve revocation after ensuring compliance.
Both cancellation and revocation follow strict legal procedures under the GST Act to maintain transparency and proper tax compliance. These processes help avoid misuse of GST registration and ensure that only genuine taxpayers remain active under the GST system in India.
Eligibility
In India, GST Cancellation eligibility applies to taxpayers who want to permanently stop their GST registration due to reasons like business closure, discontinuance, or transfer of business. Taxpayers who have not commenced business or never filed any returns for consecutive periods can also apply for cancellation.
GST Revocation of Cancellation is available for taxpayers whose registration has been canceled by tax authorities but want to continue their business under GST. They can apply for revocation within 30 days from the date of cancellation order, providing valid reasons and complying with GST rules. Both processes ensure compliance with GST laws.
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Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast
Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast