What is GST Number (GSTIN) and How does it Help your Business?

GSTIN, which is an abbreviation of GST identification number, is a unique 15-digit ID assigned to each tax payer (primarily retailers or suppliers, or any commercial entity) registered under GST. Every business operating in a State or Union Territory is assigned a unique Goods and Services Tax identification number, popularly known as a GSTIN. GSTIN (Goods and Services Tax Identification Number) is the unique ID assigned to every registered business under GST Act. The tax authorities use GST numbers for tracking GST payments and business regular loan payments registered under the GST act.

Verifying the GST Number, also called the GSTIN, for a business is necessary for availing these benefits. Moreover, your businesses GST number helps customers, other businesses, and financial institutions check on your reliability. Once you have registered and received a GSTIN, the validation flags your business as authentic. Through GSTIN, you can perform verification on a business, its name, address, or any other details related to business registration and establishment.

If any legal entity or trade company has just a single registration in a single State, then 1 number would be assigned to it as 13th digit GSTIN as per its format. It is a 15-digit number assigned based on PAN of a business registered under GST. Before GST was introduced, all traders registered under state VAT laws were issued with a unique TIN number by their state revenue authorities; the GSTIN has replaced this. Under both the VAT and service tax regimes, the TIN numbers and service tax registration numbers were issued by states and Centre.

Service providers were assigned Service Tax Registration number by the Central Board of Indirect Taxes and Customs (CBIC). Businesses which were earlier registered using TIN systems for all their trade activities, such as taking out MSME equity loans, were instantly transferred to the GSTIN system and assigned new GST numbers. Businesses who transferred their registrations from the former indirect tax regimes to claim GST numbers were given 15-digit interim GSTINs, which were confirmed after successfully verifying the documents submitted.

Every business entity needs to get a unique number in the GST registration in order to charge taxes and avail input credit. Yes, you can apply for GST Registration online at the official GST portal, then scan and upload all required documents for getting GST number. All businesses, big or small, will have to be registered with the GST and will be given a unique GSTIN, or GST number, upon registration.

Business organisations and entities registered under GST will be provided with a unique ID number known as a GSTIN. All business entities will have to register under GST and get a 15-digit unique GST Identification number (GSTIN). GST Number or GSTIN is replacing earlier multi-registration numbers such as TIN (Taxpayer Identification Number), CST, service tax, excise, etc., used under previous system of taxation.

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