LEDGERS accounting software is designed to help businesses easily maintain their accounts, GST compliance, TDS compliance, payroll and income tax filing. Accounting using LEDGERS software is simple and intuitive - no prior accounting knowledge or experience is required. LEDGERS is available as a webapp and on Google Playstore. LEDGERS accounting software is integrated with the GSTN, TRACES Portal, Banks and various other platforms in India to help businesses maintain error-free compliances and avoid penalties.

LEDGERS is built on the AWS Platform and conforms to the best practices for data privacy, security and backup. With LEDGERS accounting software being a paid product, the user/customer has complete confidentiality, privacy and control over the data inside their LEDGERS.

GST Invoicing & Billing

LEDGERS accounting software can help you quickly generate GST invoices or bills without GST from your mobile phone or computer. With inbuilt catalog and contacts, this LEDGERS software can create error-free invoices in seconds with the correct GST rate and GST computation. The platform supports billing in multiple-currencies from multiple-branches and multiple-users simultaneously.

Invoices and bills created on LEDGERS can be quickly shared with customers through SMS, Whatsapp, email and other modes.

Receipts & Payment Gateway Integration

Issue receipts to your customers and reconcile multiple payments against invoices. LEDGERS accounting software can also be quickly integrated with any type of payment gateway to automate invoicing and receipt generation. LEDGERS works with CCAvenue, RazorPay, EBS and ICICI Bank payment gateways. Need a payment gateway with very low TDR rates and next day settlement of funds? We can help you easily obtain a payment gateway.

Accounts Statement

Generate and share accounts statements with your clients instantly. View customer-wise accounts receivables, overdue invoices and send payment reminders with payment links.

Create supplier accounts statements with details of all purchases, payments made and payables. Easily track input tax credit receivable from vendors and send reminders for input tax credit not received.

Purchase & Payments

Easily record purchase invoices, payments and business expenses. Track payables and payments made against a purchase invoice in parts. Easily view upcoming payment dues, overdue payments and generate supplier accounts statements.

Upload and store copies of your purchase invoices and bills on the cloud with facility to quickly search and find documents.

GST Return Filing & ITC Reconciliation

File error-free GSTR-3B and GSTR-1 invoices directly from LEDGERS through API integration. GST returns are auto-prepared based on invoice, payments and credit note data. To file GST returns using LEDGERS, no prior accounting knowledge or experience is required.

Match purchases against input tax credit received on the GST portal. Find suppliers not providing input tax credit and followup to avoid ITC leakage. Save money and time by quickly reconciling your purchases against ITC received.

What can LEDGERS do?

Here's how LEDGERS software can help you better operate your business.

Invoicing

Create, track and send professional GST invoice, quotes or bill of supply through Whatsapp, SMS and email. Automated GST rate and GST applicability calculator to ensure error-free invoices.

Purchasing

On-board vendors, create and send purchase orders. Track vendor payments, purchase invoices and reconcile input tax credit directly from LEDGERS with GSTN API connect.

Connected Banking

Send NEFT, RTGS and IMPS payments directly from LEDGERS using your ICICI Bank Current Account. Sync bank statement and reconcile bank transactions seamlessly.

Bank Reconciliation

Check account balance and sync bank statement of 100+ Indian Banks on LEDGERS. LEDGERS supports fetching bank statement from SBI, HDFC, Axis Bank, Indian Bank and more.

Input Tax Credit

Automatically reconcile input tax credit receivable and send reminder emails to vendors for ITC not received or ITC mismatch. Reconcile thousands of purchases in minutes using automation.

GST eWay Bill

Directly generate GST eWay bill from LEDGERS and track status. Generate eWay bill in seconds from existing invoices, bill of supply, purchase invoices or delivery challans.

Customer Management

On-board customers, track payments and receivables from customers and easily send reminders for payment. Create estimates and automatically schedule reminders.

Vendor Management

On-board vendors, track payments and payables to vendors and easily send reminders for input tax credit. Create purchase orders and convert to purchases invoices in a single-click.

LEDGERS: The One-Line Solution to Your GST Software Needs

As mentioned above, LEDGERS GST Software emerges as a cutting-edge solution designed to simplify and streamline the intricacies of GST compliance for businesses of all sizes. LEDGERS GST Software stands out for its:

• Real-Time GSTN Integration: Ensures accurate and timely GST return filings through seamless data exchange with the GST Network.
• Automated ITC Reconciliation: Simplifies the reconciliation of Input Tax Credit with purchases, optimizing tax credits and compliance.
• Multi-Currency and Multi-Branch Invoicing: Supports diverse business operations with capabilities for handling transactions across various locations and currencies.
• Customizable Financial Reports: Provides detailed insights into financial health, aiding in strategic decision-making.
• Integrated Payment Gateways: Facilitates smooth financial transactions with built-in integrations for leading payment solutions.
• Advanced Invoicing Features: This feature caters to a range of invoicing needs, including reverse charges, exports, and e-invoicing compliance.
• Cloud-Based Accessibility: Offers the flexibility to manage finances and GST obligations from any location, enhancing operational efficiency.
• User-Friendly Interface: Designed for ease of use, making GST compliance accessible for users with varying levels of accounting expertise.
• Compliance Notifications: Keeps businesses informed about due dates and regulatory changes, ensuring ongoing compliance with GST laws.

Streamline your GST management and financial workflows with LEDGERS, the ultimate GST software solution for businesses like yours. Experience the ease of seamless GST filings, automated ITC reconciliation, and much more. Don't let GST compliance slow you down. Join many satisfied users who have transformed their accounting processes with LEDGERS.

Ready to Simplify Your GST Compliance? Try LEDGERS Today!

Consequences of Cancellation of GST Registration

The cancellation of GST registration has several significant implications for businesses. Here are the key consequences:

Cease to Collect GST:

Once GST registration is cancelled, a business can no longer collect GST from its customers. The business must update all billing and invoicing systems to ensure GST is not charged after the effective date of cancellation.

No Input Tax Credit (ITC):

Purchases made after the cancellation of GST registration are not eligible for ITC. Additionally, the taxpayer must pay an amount equivalent to the ITC for goods held in stock, inputs in semi-finished or finished goods, and capital goods under certain conditions as of the day immediately preceding the date of cancellation.

Filing of Final Return:

The taxpayer must file a final return using Form GSTR-10 within 3 months from the date of cancellation or the date of the cancellation order, whichever is later.

Compliance and Record-Keeping:

Even after cancellation, businesses must maintain financial records, accounts, and documents for a period of 6 years from the date of cancellation. This is necessary for any future audits, investigations, or compliance checks by tax authorities.

Legal Implications:

Failure to comply with GST law provisions after cancellation, such as not filing the final return or not paying the amount due on ITC reversal, can lead to penalties and legal action by GST authorities.

Impact on Business Operations:

GST registration cancellation can disrupt regular business operations. Reapplying for GST registration after cancellation involves a fresh application and scrutiny by tax authorities.

Refunds:

Eligible taxpayers may receive refunds for any excess GST paid after cancellation, provided they apply for a refund within the prescribed time frame.

Cancellation of All Registrations on PAN:

If a business operates in multiple states or has multiple business verticals within a state, cancellation of GST registration in one state or for one vertical may cancel all GST registrations associated with the same PAN across India.

Procedure for Cancellation of GST Registration

TheGST cancellation process involves several steps, whether initiated by the taxpayer or enforced by GST authorities. Here's a detailed guide on how to proceed:

• Form GST REG-16: The taxpayer can apply for cancellation of GST registration voluntarily through Form GST REG-16 on the GST portal.
• Form GST REG-17: If the cancellation is initiated by the GST authorities, they issue a notice to the taxpayer through Form GST REG-17.

As mentioned above, After cancelling GST registration, the taxpayer must file a final return in Form GSTR-10. The taxpayer is liable for the payment of any outstanding tax dues, including GST liabilities, pending until the date of cancellation.

Steps for Cancellation of GST Registration

Login to the GST Portal: Navigate to the GST Portal and log in using your credentials.

Apply for Cancellation

Go to the 'Services' tab, select 'Registration,' and choose 'Application for Cancellation of Registration.'

Fill in the Details

• Provide necessary details such as the reason for cancellation, date of cancellation, and value/details related to the ITC of the inventory on the date of cancellation.
• If multiple businesses are registered within the same state, specify which business the cancellation is applied for.

Pay Liabilities and File Returns

• Make the payment of any pending dues, including taxes, interest, or penalties.
• File all pending returns up to the date of cancellation.

Verification and Submission

• Verify the information submitted in the application form using a Digital Signature Certificate (DSC) or Electronic Verification Code (EVC).
• Submit the completed application.

ARN Generation

After submission, an Acknowledgement Reference Number (ARN) is generated. Use the ARN to track the status of your application.

Officer's Review

A GST officer will review the cancellation application. If additional information is needed, they may request it through the GST portal. Respond promptly to any queries.

Issue of Cancellation Order

If the officer is satisfied, a cancellation order will be issued using Form GST REG-19, specifying the effective date of cancellation.

Filing the Final Return Post GST Cancellation

After completion of GST cancellation process, the person or entity must file a final GST return on Form GSTR-10 within three months of the cancellation date or the date of the cancellation order, whichever comes first.

This is done to make sure the taxpayer has no GST dues pending. This provision does not apply to input service distributors or non-resident taxpayers who must pay tax under Sections 10, 51, or 52.

If the final GST return is not filed in Form GSTR-10, the taxpayer will receive a notice in Form GSTR-3A requiring him or her to do so within 15 days after the notice's issuance.

If the taxpayer ignores the notice, steps will be made to determine the taxpayer's liability using the facts available to the concerned Officer. The assessment order will be cancelled if the applicant files the return within 30 days of receiving the notice.

How ACS Streamlines GST Registration Cancellation

Navigating the path to GST registration cancellation can be complex, but with ACS, this journey becomes simplified and efficient. Here's a step-by-step breakdown of our assistance on how to close GST account:

Pre-Cancellation Assessment

Before diving into the GST cancellation process, it's imperative to ensure all outstanding GST returns are filed. If there are any lags in compliance, be it with GSTR-3B, GSTR-1, or the GST annual return, these need to be addressed first. Our team at ACS will assist you in checking your GST return filing status and aid in completing any pending returns.

Submitting Cancellation Application

The actual process begins with the submission of the GST cancellation application using Form GST REG-16 on the official GST portal. The form requires detailed information, such as:

• Updated contact details, encompassing mobile number and email address.
• The reason prompting the cancellation.
• The preferred date for cancellation.
• A detailed breakdown of values and taxes related to stock inputs, semi-finished goods, finished products, and capital assets like machinery.
• Specifics related to the most recent GST return filed, along with the ARN (Application Reference Number) of that return.

Navigating Official Procedures:

Once the application is submitted, a GST Officer reviews it. Within 30 days from the date of application, the Officer is expected to issue a cancellation order in Form GST REG-19. The effective date of GST cancellation is at the officer's discretion, who then informs the taxpayer. In this way, the problem of how to close a GST account comes to an end.

Rejection of application for GST cancellation

In some instances, the concerned Officer may reject the application for the following reasons.

• The submitted application is incomplete.
• In the Transfer, merger, or amalgamation of business, the new entity has not registered with the tax authority before applying.

In such circumstances, the concerned Officer provides an intimation in writing to the applicant regarding the discrepancy's nature. The applicant must respond to the same within seven days of receipt of the letter. If the applicant fails to do the same, he or she may reject the application after providing him/her with an opportunity to be heard.

Revocation of GST Registration Cancellation

The cancellation of GST registration can be revoked under specific circumstances:

• Conditions for Revocation: Revocation is possible only if the GST authorities cancel the GST registration. It is not permitted if the taxpayer voluntarily cancels the registration.
• Application for Revocation: The taxpayer can apply for revocation of the cancellation within 30 days from the date of the cancellation order issued by the GST authorities.

Procedure for Revocation of GST Registration Cancellation

• Login to the GST Portal: Access the GST portal using your credentials.
• Navigate to Revocation Application: Go to the 'Services' tab, then select 'Registration' and choose 'Application for Revocation of Cancelled Registration'.
• Provide Reasons for Revocation: Enter the reasons for revoking the cancellation and provide supporting documents, if any.
• Verification and Submission: Verify the information using a Digital Signature Certificate (DSC) or Electronic Verification Code (EVC) and submit the application.
• Acknowledgement: Upon successful submission, an Acknowledgement Reference Number (ARN) will be generated for tracking the application status.
• Officer's Review: The GST officer will review the application and may request additional information or documents if necessary.
• Decision: If the officer is satisfied with the application, they will revoke the cancellation and restore the GST registration.

Why Choose ACS?

If you're contemplating on how to close GST account, consulting with an ACS GST Expert can be invaluable. Not only will we help in preparing and submitting the application, but we'll also keep a vigilant eye on its progress, promptly respond to any inquiries, and ensure the procedure reaches its completion smoothly after submission.

With ACS by your side, GST registration cancellation becomes a hassle-free endeavour.