Can I file Form STK-2 while GST cancellation is still pending?

No. The ROC system checks for active GSTIN status. A pending REG-16 application is not sufficient; you need the cancellation order in Form REG-19 before filing STK-2. Allow 30 to 45 days for the officer to process your application.

What is GSTR-10 and is it mandatory after GST cancellation?

GSTR-10 is the final return capturing your closing stock position and ITC reversal liability. It is mandatory for every taxpayer whose GST registration is cancelled, whether voluntarily or by the officer. File within 3 months of the cancellation order or face a late fee of Rs 200 per day up to Rs 10,000, plus the risk of departmental proceedings.

How long does PF code surrender take after the company is struck off?

The EPFO does not commit to a fixed timeline. Depending on the regional office and how clean your records are, the code is typically marked ceased within 2 to 6 months of filing the EPFiGMS grievance. Start the process as early as possible, ideally before the STK-2 is filed, so the inspection can run in parallel.

Is Professional Tax applicable to all companies in India?

No. PT applies only in states that have enacted their own legislation under Article 276 of the Constitution. States such as Delhi, Uttar Pradesh, Rajasthan, Haryana, and Punjab do not levy PT. If your company operated only in a non-PT state, there is no PT registration to cancel.

Do directors need to separately cancel their PTEC after the company's PTRC is cancelled?

Yes. PTRC is the company's employer registration; PTEC is each director's individual enrolment for their personal professional income liability. The company's PTRC cancellation does not automatically cancel a director's PTEC. Directors must separately apply for PTEC cancellation if they no longer have taxable professional income in that state.

What is the ITC reversal formula for capital goods at GST cancellation?

Under Rule 44 of the CGST Rules 2017: ITC to be reversed = (Original ITC claimed / 60 months) x remaining useful life in months. Remaining useful life = 60 months minus months the asset has been in use. This reversal must be discharged before or at the time of filing REG-16.

When should the company bank account be closed?

Close the account immediately before filing STK-2. The bank closure letter and bank closure statement are mandatory annexures to the STK-2 application. However, collect all pending income tax refunds, GST refunds, and security deposits before closing the account, as these cannot be recovered after the account is shut.

Can EPFO raise PF demands against directors after the company is struck off?

Yes. Section 8 of the EPF and MP Act 1952 gives EPFO statutory recovery powers that survive the company's dissolution. Directors who signed the indemnity bond with STK-2 can be personally pursued for unresolved PF contributions. Clear all dues before the STK-2 is filed.

What happens to the company's trademark if not transferred before strike-off?

Under the doctrine of bona vacantia, property belonging to a dissolved company vests in the central government. A trademark not assigned before strike-off becomes government property. Transfer using Form TM-P at the Trademark Registry before filing STK-2.

Is there a penalty for not cancelling the Shops and Establishments registration?

State acts prescribe penalties for failure to notify closure within the prescribed period, typically 10 to 15 days. Practically, municipal authorities continue generating annual licence fee demands against unclosed registrations, which can result in arrears that eventually reach the erstwhile directors through recovery proceedings.

Can GST registration be revived if the company is later restored by NCLT?

If the registration was voluntarily cancelled, re-registration is possible. If it was cancelled by the officer due to non-compliance, revocation requires filing Form GST REG-21 within 90 days of the cancellation order, followed by filing all pending returns. A company restored by the NCLT after improper strike-off would need fresh GST registration, as the original GSTIN tied to the struck-off period cannot simply be reactivated.

For companies with multi-state operations, does each state's PT registration need separate cancellation?

Yes. PT is state-level and each registration is independent. A company operating in Maharashtra, Karnataka, and West Bengal holds three separate PTRC registrations and potentially PTEC registrations for each director in each state. Each requires a separate cancellation application on the respective state's portal.

How should companies that received Foreign Direct Investment handle closure under FEMA?

Companies that received FDI would have filed Form FC-GPR with the RBI through the Authorised Dealer Bank. Foreign investment must be addressed before strike-off: shares must be transferred to a resident entity or bought back from the non-resident shareholder in compliance with the Foreign Exchange Management (Non-Debt Instruments) Rules 2019. Failure to address this can block the STK-2 approval if the RBI flags an unresolved foreign investment position through the FIRMS portal.

What is the final income tax return filing requirement for a company being closed?

The company files Form ITR-6 for the final year, covering the period from 01 April to the date the company ceases business. A nil return is required even if there is no income. All outstanding demands, assessments, and appeals must be resolved. Any income tax refund must be received in the company's bank account before the account is closed.

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Home > Legal > Cancellation of GST, PF, PT, IEC & TAN on Closing a Company in India – Checklist & Guide.

Cancellation of GST, PF, PT, IEC & TAN on Closing a Company in India – Checklist & Guide.

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May 15,
2026

Last updated on

May 15, 2026
18:49

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Cancellation of GST, PF, PT, IEC & TAN on Closing a Company in India – Checklist & Guide.

Written By

Published on

May 15,
2026

Last updated on

May 15, 2026
18:49

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Cancellation of GST, PF, PT, IEC & TAN on Closing a Company in India – Checklist & Guide.

Written By

Published on

May 15,2026

Last updated on

May 15, 202618:49

Share

Planning to close a company? Treelife handles the entire compliance

Let's Talk

May 15,
2026

May 15, 2026
18:49