Special GST Registration Procedure for Corporate Debtors Undergoing Insolvency Proceedings

GST Notification: Notification No. 11/2020 – Central Tax

The Government, on the recommendations of the Council, hereby notifies those registered persons(hereinafter referred to as the erstwhile registered person), who are corporate debtors under the provisions of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), undergoing the corporate insolvency resolution process and the management of whose affairs are being undertaken by interim resolution professionals (IRP) or resolution professionals (RP), as the class of persons who shall follow the following special procedure, from the date of the appointment of the IRP/RP till the period they undergo the corporate insolvency resolution process, as mentioned below.

Registration.- The said class of persons shall, with effect from the date of appointment of IRP / RP, be treated as a distinct person of the corporate debtor, and shall be liable to take a

new registration (hereinafter referred to as the new registration)in each of the States or Union territories where the corporate debtor was registered earlier, within thirty days of the appointment of the IRP/RP: Provided that in cases where the IRP/RP has been appointed prior to the date of this

notification, he shall take registration within thirty days from the commencement of this notification, with effect from date of his appointment as IRP/RP.

Notification Link: http://www.cbic.gov.in/…/notfctn-11-central-tax-english…