GSTN Advisory for the taxpayer wishing to register as “One Person Company” in GST Portal
As per provision of section 2(62) of The Companies Act, 2013 “One Person Company” is defined as a company which has only one person as member.
Some issues have been raised by the persons registering as ‘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 form notified by CGST/SGST Acts and hence not available on the GSTN portal also.
As a work around, it is advised that in the ‘Part B’ of GST Registration Form ‘REG-01’, applicant may select (Constitution of Business under ‘Business Details’ tab using dropdown list) option “Others”, if the taxpayer wants to register for GST as “One Person Company”. After selecting option as “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.
In case of any further issues, it is advised to raise ticket at self help portal.
- First-time experience in filing appeal a reasonable & bona fide cause for delay
- Non-disclosure of destination place in documents no ground for seizure u/s 129 of GST Act.
- Charging of exorbitant interest in commercial transactions not against morality or justice
- Assessees not required to prove “source of the source‟ of funds Prior to Finance Act 2022
- During pendency before settlement commission, assessee have right to contest assessment
