GST News & Updates || Advisory for the taxpayer wishing to register as a “One Person Company” in GST

As per provision of Section 2(62) of The Companies Act, 2013 “One Person Company” is defined as a company that has only one person as a member.

Some issues have been raised by the persons registering as a ‘One Person Company’ while they take GST registration. Upon analysis, it has been noticed that the option of choosing One Person Company is not there in the form notified by CGST/SGST Acts and hence not available on the GSTN portal also.

As a workaround, it is advised that in the ‘Part-B’ of GST Registration Form ‘REG-01’, the applicant may select (Constitution of Business under ‘Business Details’ tab using the dropdown list) option “Others”, if the taxpayer wants to register for GST as “One Person Company”. After selecting the option “Others”, the applicant shall also mention “One Person Company” in the text field and follow the steps for a normal registration application to complete the process.

The Advisory can be accessed at Click Here

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *