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Companies under IBC will need New GST Registration
PrintCompanies under Insolvency and Bankruptcy process must avail a fresh GST registration within 30 days of a resolution professional being appointed for them.
If the resolution professionals have already been appointed, GST registration will have to be availed within a month, the government has said.
The new registration will have to obtained in each of the states or union territories the corporate debtor or the stressed company was registered earlier.
The resolution professional, according to a government notification, will have to file GST returns after obtaining registration under Section 40 of the CGST Act till the date on which registration has been granted.
The section requires every registered person—who makes sales in the period between the date he becomes liable to registration till the date on which registration has been granted—to declare the same in the first return after receiving the registration.
If the resolution professionals have already been appointed, GST registration will have to be availed within a month, the government has said.
The new registration will have to obtained in each of the states or union territories the corporate debtor or the stressed company was registered earlier.
The resolution professional, according to a government notification, will have to file GST returns after obtaining registration under Section 40 of the CGST Act till the date on which registration has been granted.
The section requires every registered person—who makes sales in the period between the date he becomes liable to registration till the date on which registration has been granted—to declare the same in the first return after receiving the registration.
Category : GST | Comments : 0 | Hits : 889
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