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One Person Company (OPC) Pvt. Ltd. (GST Registration)

About of Service

To register for GST as a One Person Company, the following steps generally need to be followed:

  1. Obtain Digital Signature Certificate (DSC)

  2. Apply for Director Identification Number (DIN)

  3. Apply for GST Registration

  4. Verification and Approval

  5. Filing GST Returns

It's important to note that GST regulations may evolve over time, so it's advisable to consult with a chartered accountant or GST practitioner for the latest requirements and procedures specific to your OPC.

Uses and Benefits
  • Legal Compliance: Mandatory Requirement: GST registration is mandatory for businesses with a turnover exceeding the prescribed threshold limit (INR 40 lakhs for most states, INR 20 lakhs for special category states).
  • Input Tax Credit (ITC): Claiming ITC: Enables the OPC Pvt. Ltd. to claim Input Tax Credit (ITC) on GST paid on inputs (goods and services used in business operations), capital goods (machinery, equipment, etc.), and input services (services used in business activities).
  • Structured Tax System: Provides a structured tax system that simplifies compliance with GST laws, including issuance of tax invoices, filing of returns (GSTR-1, GSTR-3B), and maintaining proper records.
  • Financial Management: Tax Collection: Facilitates the collection of GST from customers and ensures proper remittance to the government, contributing to national revenue.
  • Operational Advantages: Inter-state Transactions: Facilitates seamless inter-state transactions by eliminating the cascading effect of multiple taxes under the previous VAT regime.
  • Customer and Stakeholder Confidence: Credibility: Enhances the credibility of the OPC Pvt. Ltd. as a compliant entity, fostering trust among customers, suppliers, and stakeholders.

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Charges Structure & Our Scope of Work

Additional Disclosure

  • Company Details:

    • Provide the legal name of the OPC Pvt. Ltd. as registered with the Ministry of Corporate Affairs (MCA).
    • Mention the Corporate Identity Number (CIN) issued by the Registrar of Companies (RoC).

  • GST Registration Details:

    • Mention the GST Identification Number (GSTIN) issued to the OPC Pvt. Ltd. upon registration under GST.
    • Specify the effective date of GST registration and the validity period of the registration.

  • Nature of Business Activities:

    • Describe the primary business activities conducted by the OPC Pvt. Ltd. that are subject to GST.
    • Specify if the OPC Pvt. Ltd. is engaged in any exempted supplies or zero-rated supplies under GST.

  • Taxable Supplies and Services:

    • Outline the types of taxable supplies made by the OPC Pvt. Ltd., such as sales of goods, provision of services, etc.
    • Detail any goods or services that fall under different GST tax rates (e.g., 5%, 12%, 18%, 28%).

  • Input Tax Credit (ITC):

    • Explain the eligibility criteria and utilization of Input Tax Credit (ITC) claimed on GST paid for inputs, capital goods, and input services.
    • Provide details of how ITC is accounted for and reconciled in the OPC Pvt. Ltd.'s financial records.

  • GST Compliance:

    • Describe the OPC Pvt. Ltd.'s compliance framework for GST, including:
      • Regular filing of GST returns (e.g., GSTR-1, GSTR-3B) within the prescribed timelines.
      • Maintenance of proper records, tax invoices, and other documents as required under GST laws.

  • Annual Turnover:

    • Disclose the OPC Pvt. Ltd.'s annual turnover for GST purposes, categorizing turnover for intra-state and inter-state supplies, if applicable.

  • Financial Reporting:

    • Provide the audited financial statements of the OPC Pvt. Ltd., including the balance sheet, profit and loss account, and cash flow statement.
    • Ensure compliance with accounting standards and disclosure requirements.

    • Terms & Conditions

    Documents & Detail Required


    For GST registration of a One Person Company (OPC) in India, you typically need to provide several documents and information. Here's a list of the required documents:

    1. PAN Card of the OPC: The Permanent Account Number (PAN) of the One Person Company is required for GST registration.

    2. Proof of Constitution: This could be the Certificate of Incorporation or the Partnership Deed, depending on the type of entity.

    3. Identity and Address Proof of the Director: Identity proof such as Aadhaar card, Passport, Voter ID, or Driving License, along with address proof such as Aadhaar card, Passport, Voter ID, Driving License, or Utility bills (electricity bill, telephone bill, etc.) of the Director of the OPC.

    4. Photograph of the Director: Passport-sized photograph of the Director.

    5. Address Proof of the Registered Office: Documents such as the latest electricity bill, property tax receipt, or rent agreement along with a NOC (No Objection Certificate) from the landlord (if the property is rented).

    6. Bank Account Details: Scanned copy of the first page of the bank passbook or a bank statement showing the company's name, address, and the first page of the passbook or bank statement.

    7. Digital Signature Certificate (DSC): DSC of the Director of the OPC.

    8. Authorization Letter: In case the GST registration application is being filed by an authorized signatory other than the Director, an authorization letter signed by the Director should be provided.

    9. Business Details: Information regarding the nature of business activities, goods or services supplied, turnover details, etc.

    10. Additional Documents: Depending on the nature of the business and the requirements of the GST authorities, additional documents may be required.

    These are the primary documents required for GST registration of an One Person Company (OPC). Additional documents may be requested based on the specific circumstances of the One Person Company (OPC) or changes in regulatory requirements.

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    OUR REVIEW

    FAQ'S

    Is GST registration mandatory for an OPC?

    Yes, GST registration is mandatory for an OPC if its aggregate turnover exceeds the threshold limit specified by the government.

    What is the penalty for not obtaining GST registration for an OPC?

    Failure to obtain GST registration when required may attract penalties under the GST laws. The penalty may include a monetary fine or other legal consequences.

    Can an OPC voluntarily register for GST even if its turnover is below the threshold limit?

    Yes, an OPC can voluntarily register for GST even if its turnover is below the threshold limit. Voluntary registration allows the OPC to avail of input tax credit and participate in interstate trade.

    How often does an OPC need to file GST returns?

    The frequency of GST return filing depends on the turnover of the OPC. It may be monthly, quarterly, or annually.

    Can an OPC cancel its GST registration?

    Yes, an OPC can cancel its GST registration if it ceases to carry on its business activities or no longer exceeds the turnover threshold requiring GST registration.

    Is there any exemption or special provision for GST registration for small OPCs?

    As of the last update, there are no specific exemptions or special provisions for GST registration based on the size of the OPC.