The Goods and Services Tax Network (GSTN) has announced significant revisions to FORM GST REG-01, applicable to taxpayers seeking GST registration. The updated application form introduces additional disclosure requirements, revised business classifications and standardised document requirements to improve the registration process.
The key changes include the introduction of One Person Company (OPC) as a separate business constitution category, a new SEZ Entity ID field and a dedicated section for e-commerce operators liable to pay tax under Section 9(5) of the CGST Act, 2017.
The revised form also requires additional details of existing registrations, including GSTIN and Professional Tax Registration particulars. The classification of principal and additional places of business has been standardised to cover owned, rented, leased, consent-based, co-working and SEZ premises, along with prescribed supporting documents.
Further, the list of business activities has been expanded to include additional categories such as factory registration, Authorised Economic Operator (AEO) details, health and fitness clubs and renting or hiring of immovable property, motor vehicles, vessels and aircraft.
Applicants must also provide available bank account details, with a facility to report up to 10 accounts. If these details are unavailable during application, they must be furnished within 30 days from the issuance of the GST registration certificate in FORM GST REG-06. LLP applicants are additionally required to provide the DIN of designated partners.
The system will also conduct online validation of applicable identification numbers, including CIN, FCRN, LLPIN and FLLPIN. Generation of the Application Reference Number (ARN) will be subject to successful validation of the required information.
Taxpayers should review the revised form and arrange the necessary details and supporting documents before submitting their GST registration applications to avoid errors and processing delays.
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Source: CA Sansaar