New functionality has been opened for corporate debtors on GST portal. The GST network had informed on Sunday that it had enabled new registration functionality on the GST portal for erstwhile registered entities who are now corporate debtors under the provisions of the Insolvency and Bankruptcy Code (IBC). It had been stated that taxpayers opting for registration under GST will have to choose the reason to obtain new registration in the drop-down menu as “corporate debtor undergoing the corporate insolvency resolution process by IRP/RP”.
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