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

The Goods and Service Tax portal has come up with the facility for registration of insolvency resolution professionals/resolution professionals in the GST portal.

The Insolvency Resolution Professionals/ Resolution Professionals appointed to undertake corporate insolvency resolution proceedings for Corporate Debtors, shall apply for a new registration on GST Portal, on behalf of the Corporate Debtors, where the corporate debtor was registered earlier. It has to be done within 30 days of their appointment as IRP/RP. They must select the Reason for Registration as “Corporate Debtor undergoing the Corporate Insolvency Resolution Process with IRP/RP” from the drop-down menu. The person appointed as IRP/RP shall be the Primary Authorized Signatory for the newly registered Company.

The new registration by IRP/RP will be required only once. In case of a change in IRP/RP, after the initial appointment, it would be deemed to be a change of authorized signatory and not an appointment of a distinct person requiring a fresh registration.

Click here to read the Notification.