Section 45 of CGST Act, 2017 : Section 45: Final Return

Explanation using Example

Imagine a scenario where a business owner named Mr. Sharma runs a small electronics store and is registered under the GST. Due to a shift in his business model, he decides to close the physical store and move entirely online, opting not to register his online business under GST as it falls below the threshold limit. Consequently, Mr. Sharma applies for cancellation of his GST registration. His registration is cancelled on June 15, 2023. According to Section 45 of the Central Goods and Services Tax Act, 2017, Mr. Sharma is required to submit a final GST return. He has until September 15, 2023, which is three months from the date of cancellation, to comply with this requirement. If he fails to furnish the final return within this timeframe, he may face penalties as prescribed under the GST law.