What is GSTIN?
GSTIN (Goods and Services Tax Identification Number) is a unique identification number assigned to businesses registered under the Goods and Services Tax (GST) system in India. It is a 15-digit alphanumeric number that is assigned to each taxpayer to help the government track their tax transactions.
Introduction.
The first two digits of the GSTIN represent the state code, followed by the next ten digits which represent the PAN (Permanent Account Number) of the taxpayer. The thirteenth digit indicates the number of registrations an entity has within a state for the same PAN. The fourteenth digit is by default “Z” and the last digit is a check code that is used for validation purposes.
Usage
Businesses with an annual turnover of Rs. 20 lakh or more (Rs. 10 lakh for special category states) are required to register for GST and obtain a GSTIN. The GSTIN is used for various purposes, including invoicing, filing of returns, and payment of taxes.
Important!
It is important for businesses to mention their GSTIN on all invoices and documents related to their business activities to ensure compliance with GST regulations. The GST portal provides an online facility to check the validity of a GSTIN and to search for GSTINs of other businesses.
TaxSpanner.com is one of India’s largest and most trusted websites that offers online preparation of accounts books and filing of TDS, GST, individual Income Tax Returns (ITR). Established in 2007, TaxSpanner is based out of New Delhi. Since then, it has grown to build very large customer base in this market segment.
