GST Notification 27 May 2020

GST Portal Update News

Facility for registration of IRP/RPs made available on the GST Portal

27/05/2020

1. The Insolvency Resolution Professionals/ Resolution Professionals (IRPs/RPs),
    appointed to undertake corporate insolvency resolution proceedings for Corporate
    Debtors, can apply for new registration on 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, in terms
   of Notification No. 11/2020-CT, dated 21st March, 2020 and as amended vide
   Notification No. 39/2020-CT, dated 5th May, 2020. The IRP / RP are required
    to obtain a new registration within thirty days of their appointment as IRP/RP
    or by 30th June, 2020, whichever is later, except in cases where the corporate
   debtors have filed Form GSTR-1 and Form GSTR-3B, for all the tax periods prior
   to the appointment of IRP/RP.
2. They should select the Reason for Registration as “Corporate Debtor undergoing
   the Corporate Insolvency Resolution Process with IRP/RP” from the drop down menu.
3. The date of commencement of business for IRP/RPs will be the date of their
   appointment. Their compliance liabilities will also come into effect from the
   date of their appointment.
4. The person appointed as IRP/RP shall be the Primary Authorized Signatory for the
    newly registered Company.
5. In the Principal Place of business/ Additional place of business, the details as
   specified in original registration of the Corporate Debtors, is required to be entered.
6. The new registration application shall be submitted electronically on GST Portal
   under DSC of the IRP/RP
7. The new registration by IRP/RP will be required only once. In case of a change in
   IRP/RP, after initial appointment, it would be deemed to be change of authorized
   signatory and not an appointment of a distinct person requiring a fresh registration.
8. In cases where the RP is not the same as IRP, or in cases where a different IRP/RP
   is appointed midway during the insolvency process, the change in the GST system
   may be carried out by a non- core amendment in the registration form.
9. The change in Primary Authorized Signatory details on the portal can be done
   either by the authorised signatory of the Company or by the concerned
    jurisdictional officer (if the previous authorized signatory does not share the
    credentials with his successor) on request of IRP/RP.