Before implementing the Goods & Services Tax (GST), every business person and dealer had to register under VAT compulsorily. The laws of the state held power in their area of operations. Accordingly, they each received a TIN from the respective authorities responsible for collecting state-level taxes. A similar registration number is allotted to providers of services by the Central Board of Indirect Taxes and Customs (CBIC).
However, with the implementation of the GST, all taxpayers have been brought under a common platform for administration purposes. In this guide, we’ll explore the GSTIN number format and its significance in the grand scheme of things.
Every taxable business receives a 15-digit GSTIN based on its Permanent Account Number (PAN) from the state’s tax authorities. The GST number format breakdown is as follows.
Therefore, a typical GST number format example can be 29GGGGG1314R9Z6.
As a part of the process of GST Registration, once the GST authority approves the GST application, the dealer receives his unique GSTIN.
You can undergo GST registration in two ways:
In addition, you must keep the following information handy when applying for GST.
Please note that registering for and obtaining a GSTIN is free of charge.
The method is relatively easy and involves the steps mentioned below.
If the GSTIN is valid, details like the status of GSTIN, date of registration, the company’s business structure, taxpayer type, and SEZ unit will show up within seconds. In case the GSTIN is invalid, the webpage displays an error.
Getting a GST registration is a straightforward process that can be done online. It is free of cost and offers a host of advantages. Those include legally establishing the business as a services or goods supplier, ensuring input credit, and eliminating restrictions on interstate sales.
To learn more about GST registration, you can check out the Fi Money blog, which comprises informative blogs and articles. The site also helps you in getting GST registered online.
GSTIN, an abbreviation of the Goods and Services Tax Identification Number, is a unique fifteen-digit identification number allotted to all taxpayers, primarily suppliers, dealers, or any business registered under GST.
The GST number has 15 letters in it.