GST Registration for One Person Compan1

1. GST Registration for One Person Company: Know all about it GST registration for One Person Company is necessary where numerous organizations have registered and switched over to it. The GST number is a unique identifier that is issued upon the enrolment of any business organization. It is a 15-digit number that is exclusively given to every taxpayer who has registered for the GST. To collect taxes on behalf of the government and claim an Input Tax Credit for taxes paid on incoming supply, an individual must enrol in the GST Law and get a unique GST number from the relevant and opt tax body. GST Registration for One Person Company: Detailed Information A new definition of the One Person Company (OPC) was established in the Companies Act of 2013. In a private business, it is known that there must be two directors and two members at minimum. On the other hand, a public corporation needs a minimum of three directors and seven members. A corporation could not previously be formed by a single individual. A firm founded by a single person is known as an One Person Company (OPC). Before the Companies Act of 2013, a company may be established with just one director and one member, according to the Company’s Act of 2013’s Section 2(62). Compared to a private business, this One Person Company corporation has fewer compliance responsibilities. A participant may establish a business with just one member and one director by the Companies Act of 2013. The member and the director can be the same individual.

2. Therefore, a One Person Company is a firm that combines the advantages of a Sole Proprietorship and the characteristics of a corporation and can be incorporated by a single person, either a resident or an NRI. Documents Required for GST Registration for OPC When registering for GST, individuals or organizations need to mandatorily provide the following documents which are essential for GST Registration. The following documents are: •Company’s PAN Card; •Company Registration Certificate; •Copy of the Memo of Association or Articles of Association; •Proof of the cancelled cheque or bank statement; •Proof of appointment of an authorized signatory in the form of a Letter of Authorization; •Copy of the address for the Primary and Secondary places of business; •Copy of the Utility Bills; like Electricity, Landline, Water, or Municipal bills; •Copy of the Property Tax Receipt from applicant. Want to know more on documents required for GST? Simple process of GST Registration for OPC Any business, organization, or person that purchases, sells, or renders services is required to register with the Goods and Services Tax (GST) to get the input tax credit. Moreover, the Temporary Reference Number (TRN) is generated for the application during online GST registration portal.

3. •First open the GST website and log in. •Complete section A of the form, by providing certain requirements like PAN, Mobile number, and Email address. Applicants can confirm their details on the portal through an email or OTP. He/she can upload the necessary documents. One can access and fill out part B using the number you received. They will receive an Application Reference Number (ARN). The GST officer will begin confirming all the submitted documents. Within seven working days, the GST officer will either accept or reject your application. Timeline for OPCs GST Registration You can get the suggested directors from the Digital Signature Certificate (DSC) and DIN in a single day. It takes three to five days to issue an OPC Certificate of Incorporation. It takes around 10 days to include an OPC, which contains departmental acceptance and response from the appropriate department.