GSTN Guidance: GST registration Facility of IRPs made available on the GST Portal
- Insolvency Resolution Professionals / Resolution Professionals (IRPs) / (RPs), named to conduct corporate insolvency resolution proceedings for corporate debtors, in the form of notice. No 11/2020-CT of 21 March 2020 may apply for a new registration on the GST Portal, on behalf of the Corporate Debtors, in each of the States or Union Territories, on the PAN and CIN of the Corporate Debtor, where the Corporate Debtor was registered earlier, within thirty days of their appointment as IRP / RP under IBC
- The Registration Explanation should be picked as Corporate Debtor undergoing the Corporate Insolvency Resolution Process with IRP/RP ” from the drop-down menu.
- The day of the commencement of operations for IRP / RPs will be the day of their appointment. Their compliance duties may also fall into force from the date of their appointment.
- Person named as IRP / RP shall be the Primary Approved Signator of the newly registered Company.
- Information, as stated in the original registration of the Corporate Debtors, shall be entered in the main place of business/additional place of business.
GST registration for Insolvency Resolution Professionals
- A new form for GST registration shall have to be sent electronically to the GST Website under the IRP / RP DSC. In case IRP is willing to do the GST registration free of cost then he has to apply himself,
- IRP / RP registration will only be needed once. In the event of a change in IRP / RP, a change of the approved signatory will be called after the original appointment and not the appointment of a different individual needing a new register.
- In cases where the RP is not the same as the IRP, or in cases where a different IRP / RP is appointed in the middle of the insolvency process, a change in the GST system may be made through a non-core change in the registration form.
- The adjustment to the Primary Authorized Signatory information on the site can be made either by the authorized signatory of the Company or by the competent court officer (if the former authorized signatory may not exchange the credentials with his successor) at the request of the IRP / RP.