The GSTIN full form stands for goods and services taxation identification number. It is a combination of unique fifteen-digit numbers that is allocated to all taxpayers. The taxpayers are generally the suppliers and dealers of a business body belonging to any sector. The GSTIN code is signed under the primary regime of GST.
Prior to the implementation of GST number, every VAT-registered dealer was allotted specific sets of TIN numbers generated by their respective taxation authorities. The GSTIN number was substituted by the same. Enterprises that have been registered under the GST number are now offered with an identification code that is unique in nature. This number is referred to as the GSTIN. Attaining GSTIN and signing it up for goods and services taxation comes completely free of any charge.
What is GSTIN Number?
The fifteen-digit GST number or GSTIN is usually linked to one’s organization or company name. It is only associated once the process of GST regime registration has been completed. With a few simple steps, one can perform GSTIN registration offline without paying any fees.
As mentioned, dealers are signed under the Value Added Taxation regulation and allocated with a TIN; the service providers are also assigned a tax registration code. This registration number is offered by the CBIC.
Under the rules and regulations of GST number, all tax holders are considered under a solo platform for any administration or compliance purpose. These are generally allocated under a distinct authority. Each venture operating in a union or state territory shall be assigned a GST no., which is considered the GSTIN. The GSTIN verification can be performed based on the precise taxation GST searching tool.
What is the Fundamental Purpose of a GST Number, and Why Do You Need it?
Now that you are informed about what is GST in number, you must also learn the primary reasons why you need it at all. Neglecting the registration of such formalities can often result in adverse losses and consequences. This is even more evident if you are a business owner. If you operate a running business, you must pay attention to the key advantages you can gain from a GSTIN registration.
As per the regime of GST, getting a GSTIN number is compulsory for every business body. Individuals or ventures need to sign up with the Council of Goods and Services Taxation in case their annual returns surpass the threshold of approximately twenty lakhs.
For organizations, signing up for GSTIN with the help of a GST number is a mandatory act. If the registration is completed in the right way, one can easily offer any service and perform a business transaction. They can also claim their refunds or file the returns of GST under the regime hassle-free. The number is linked to the business body and assists the government authorities in identifying one’s business details easily.
How Can You Apply for the GSTIN?
In this part of the article, you are going to explore beyond what is GSTIN number and focus on the details of its application process. The GSTIN application procedure falls under the GST enrolment category. Once the GST application has been granted by the authority of goods & services tax number, a specific identification code is immediately generated. There are two different ways to apply for this unique identification code in order to attain it. One can opt to apply for GSTN either online or offline based on their unique needs and preferences.
How Do You Verify the GSTIN?
There are several organizations that generate fake or completely invalid GST number. The reason is to charge the applicants with some additional money. It also helps them avoid paying for the tax that is charged under the regime of goods & services tax number.
According to the regulations, all traders or service providers who charge GST to their consumers need to print the GSTIN code on their product invoices. Nevertheless, one can always check for the validity of the code that has been offered to them in case they have any inquiry. Here are some of the crucial details you must know to avail and use your GSTIN number.
If you want to check the GSTIN validity, you will need to go by the following steps:
- Visit the webpage of GST, which is https://www.gst.gov.in/
- You are then going to find an option that says ‘Search Taxpayer’ on the menu handle
Proceed by keying in the GST no. that you want to check in the browse box and type the captcha texts as displayed
In case the provided GSTIN code is an authentic and registered goods & services tax number, you will be shown the following results within a span of a few seconds.
- The Status of your GSTIN
- The date of registration
- Business structure and type: sole proprietorship or company, etc.
- The category of taxpayer: Composition, Sez unit or daily taxpayer
The Unavoidable Advantages of GST Number
The reason why all types of business entities across the globe are well informed and aware of GST is because of the multiple benefits it provides under its regime. If you have gained adequate information on what is GSTIN number, you must also learn about its paybacks. Some of the top plus points of GSTIN are as follows:
- It assists in lowering tendencies of duplication, fraud, taxation evasion, economic sharp practices and even identity theft.
- Enhances ease of business operation by enabling transactions across the union zones and states
- Offers a one-point solution when it comes to dealing with indirect taxation compliances
The ideal part about GSTIN is that any individual with the registered code can get credit on services and purchases to ensure your venture has been acquiescent with the regulations of GST. This can help in enhancing your organization’s rating.
The Final Words
GSTIN has swapped all the unique TIN codes and the state VAT regulations for landing as the specific identification code for businesses. Today, it is utilized and implemented as a symbol of recognition in the legal field and has become a mandatory criterion for any business. Not only that, GSTIN has become the source of trust among business bodies and consumers. An entity with a GSTIN code can log in to the portal without any hassle and access the details of their input credits of services and purchases.
The above-mentioned details on GSTIN procedures, status, application and registration will help you stay clear on the legal grounds. The above information will also guide you in running your business more transparently and smoothly.
FAQS on GSTIN
1. Can You Detect The Name Of An Owner Through A GST Number?
Yes, you can find the name of the owner through the GST code online. You will need to key in the particular GSTIN within the search toolbar as an input. If the code you have entered is right, you will be able to check the name of the owner’s legal and trade name.
2. What Are The Documents You Need During GSTIN Registration?
Every application procedure demands copies of transparent and unique documents. For the GSTIN application, you will need the following photocopies:
- Constitution of the tax holder
- Evidence of the location of your business
- Details of your account
- The authorization form
3. What Are The Advantages Of Online GSTIN?
In today’s pragmatic race of time, every applicant prefers the easy way out when it comes to performing legal formalities. If you want to register for your GSTIN, you can complete it right from the comfort of your home. Some of the top advantages of online GST number confirmation include the following:
- Perform the verification remotely on your personal device with the help of the GT search tool
- Check for authenticity and originality with similar results as offline
- GSTIN on manually written invoices can be easily verified in case it lacks clarity
- The verified and authentic site helps keep fake GSTN vendors away
- Avoid being victim to sharp practices with a few simple and easy steps
- Assist other vendors in rectifying potential flaws when reporting GSTN
4. How Can You Know If A Firm Is GST-Registered?
You can check if an organization is registered for GST online. Proceed by entering the GST number and the company name by using an authentic search tool. You will then need to click on search. If the organization is registered, the details of the registration, along with the status of GSTIN, shall be displayed on the screen.