What is GSTIN?

Do you wish to witness the exponential rise of your company and yet remain legally compliant? With GSTIN, you can establish your authenticity across the business spectrum. You might be wondering by now what this GSTIN is. In this post, we will give you informative insights about GSTIN. 

Conduct your business operations with increasing convenience!

According to the present regulations of the GST system, all enrolled taxpayers are linked into a single forum for administrative convenience and enforcement purposes. A single authority conducts the registration process. Every taxpayer is given a distinct Goods and Services Tax Identification Number (GSTIN). GSTIN is the 15-digit registration number that all GST-registered people and businesses have. GSTIN should be displayed on the name board of business.

Before we dive into the specifics of GSTIN, let's take a look at how the one-of-a-kind number might benefit your company.

  • A GSTIN number gives legal recognition to your business entity. This helps to build trust with customers and contributes to growth.
  • With a valid GSTIN number, you can receive input tax credit on your purchases.
  • Compared to a small firm, you will be able to boost your competitiveness with a GSTIN number because purchasing from them will secure input credit

You will be able to expand the scope of your business by registering on e-commerce sites or creating your eCommerce website.

Now that you know the rewards of having a GSTIN let's look at how you can understand your GSTIN structure.

Because it has a set format and structure, you can effortlessly understand your GSTIN. There are 15characters in GSTIN. The following 15 characters are based on:

State Code: The state code of the state in which the person who has been registered under the GST Act operates is the first two characters of a GSTIN.

Permanent Account Number: The 10 digits of the GSTIN after the State Code reveals The PAN of the person who pays tax under the GST Act.

Registration Number: The 13th digit of the GSTIN depicts the number of registrations in the state in which the taxpayer has registered.

"Z": This letter always represents the 14th digit in the GSTIN.

Check Code: It is the last digit of your GSTIN. It can be either an alphabet or a number.

How to apply for GSTIN number?

You need to follow the easy steps below in order to apply for a GSTIN number online.

Step 1: Visit www.gst.gov.in the GST online site.

Step 2: You have to give your basic information in Part A of the application and select the “Proceed” option.

Step 3: The site will confirm your information by delivering an OTP to your phone and email address.

Step 4: You will receive the Temporary Reference Number (TRN) by mobile or email once the verification procedure is completed.

Step 5: Now, you can use the TRN to fill out Part B of the application. This step will necessitate the following documents:

  • Photographs
  • Taxpayer's constitution
  • Proof of business location
  • Bank account information
  • Authorization Form

Step 6: Fill in all essential information, and upload all required documents. You can submit the application using Aadhaar OTP or DSC.

The GST officer will verify your application within three working days. The officer will approve your application and provide you with a Certificate of Registration (Form GST REG 06), or the officer will request additional information via Form GST-REG-03.

Within 7 working days, the supplementary information must be submitted. Once the information is submitted, the officer can reject the application and explain the reasons in Form GST-REG-05. The application will be completed, and you will obtain a Certificate of Registration if the GST officer is pleased with the information supplied.

How to check your GSTIN number?

Now that you have got your GSTIN number, it is vital to check your GSTIN number. 

Every other day, fake GSTIN numbers are discovered, which aids firms in evading taxes and allowing them to charge extra tax. You should be aware that any service provider that charges GST to their consumers is required to print their GSTIN number on all invoices they make. If you're unsure about the GSTIN number provided, you can double-check it using the following method:

Step 1: Go to gst.gov.in to access the GST Portal.

Step 2: You'll see a "Search Taxpayer" option on the menu bar.

Step 3: In the search box, type the GSTIN number you want to check and the captcha code that appears.

Step 4: The following information will be displayed if the specified GSTIN is a valid GST registered business.

  • Date of GSTIN Registration
  • Types of business structures.
  • Taxpayer classification

If the GSTIN entered is incorrect, the website will display an "error" notice.

How to surrender your GSTIN number?

If you wish to surrender your GSTIN number, follow the easy steps below.

Step 1: Go to gst.gov.in and log in to your account.

Step 2: Select Services from the drop-down menu. >> Sign up >> Cancellation of Registration Application. As shown below, there will be three tabs.

  • Basic Information
  • Cancellation Information
  • Verification

Step 3: Fill in the Address for future communications or choose Address same as above, then click the Cancellation Details tab.

Step 4: Determine the cause for the cancellation and the cancellation date. 

Step 5: Go to the verification tab and verify with an EVC or a digital signature to get your ARN.

Concluding Remarks:

Stay ahead of the game. Gain more clout with a digital infusion. Hope the above information provides you with the inside scoop on all you need to know about the GSTIN and its online functionality.


Author : Sakshi

Date     : 29-Jun-2022