Sir, my turnover on trade is approx 10lakhs per annum and i got registered under GST also. Earlier, i had to get registered under VAT and subsequently got this GST number under composition . My query is, since my turnover is below 20L, am i supposed to pay 1% tax and is there any possibility of cancelling the GST number and free from these formalities.
Yes you can cancel registration any time after paying your liability.
Login to your GST portal with user id and password and apply for cancellation of registration.
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