GSTN Update
According to section 2(62) of the 2013 Companies Act, a “One Person Company” is a company with a single member. Those registering as a “One Person Company” in conjunction with their GST registration have highlighted a few concerns. Following examination, GSTN discovered that the option to select a One-Person Company is absent from the form notified under the CGST/SGST Acts and is thus absent from the GSTN portal as well.
Therefore. If a taxpayer desires to register for GST as a “One Person Company,” they may pick “Others” from the drop-down menu in Part B of Form REG-01, GST Registration. After selecting “Other,” the applicant must specify “One Person Company” in the text field and complete the procedure by following the steps for a standard registration application.
