Know your GST Number, Know your GSTIN 2021:Step by step guide for Track GST Provisional ID Status, Track GST ARN Status by using below Guide...On bringing GST into practice, there would be merger of Central and State taxes into a single tax payment. Further, it would subsume all indirect taxes at the center and the state level. It is expected to enhance the position of India in both, domestic as well as international markets.
At the consumer level, GST would reduce the overall tax burden, which is currently estimated at 25-30%. Any major macro-economic reforms in the country are only possible with effective fiscal & monetary policies in place and economic reforms are important for empowerment of poor.Approximately 70% of the population lives in rural India, GST will become a catalyst for a common rural market in our country with the removal of state level barriers.However, one change which every taxpayer is going to face immediately will be in their tax identification number.
Know your GSTIN,What is GSTIN?
GST Number (GSTIN) is a unique 15 digit number which is allotted to the assessee at the time of filing an application for registration for Goods & Service Tax. Just like PAN Card No is required for payment and filing of Income Tax Returns, similarly GSTIN is required for payment and filing of GST Returns.
Tracking of GST Status
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How to Track GST Status
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The registration in GST is PAN based and State-specific. The supplier has to register in each of such State or Union territory from where he affects supply. In GST registration, the supplier is allotted a 15-digit GST identification number called “GSTIN” and a certificate of registration incorporating therein this GSTIN is made available to the applicant on the GSTN common portal.The first 2 digits of the GSTIN is the State code, next 10 digits are the PAN of the legal entity, the next two digits are for entity code, and the last digit is the checksum number. Registration under GST is not tax specific which means that there is single registration for all the taxes i.e. CGST, SGST/UTGST, IGST and cesses.
A given PAN based legal entity would have one GSTIN per State, that means a business entity having its branches in multiple States will have to take separate State wise registration for the branches in different States. But within a State an entity with different branches would have single registration wherein it can declare one place as principal place of business and other branches as additional place of business. However, a business entity having separate business verticals (as defined in section 2 (18) of the CGST Act, 2017) in a state may obtain separate registration for each of its business verticals. Further a unit in SEZ or a SEZ developer needs to necessarily obtain separate registration.
Format of GSTIN
Goods & Service Tax Identification Number (GSTIN) is a PAN based number i.e. to say that it is based on the PAN No. of the applicant. It is a 15 digit number and format of the same is as follows:-
- The first two digits of this GST number will represent the state code
- The next ten digits will be the PAN number of the taxpayer
- The thirteenth digit will be assigned based on the number of registration within a state
- The fourteenth digit will be Z by default
- The last digit will be for check code
Using the above guide you can easily identified GSTIN Number of any assessee. For Further Queries related toGST Registration,GST Login Procedure, GST Rates 2021, GST Return Online Process, GST Refund Details, HSN Code List,you may also refer the FAQ on migration issued by GSTN.
Registration under GST is not tax specific, which means that there is single registration for all the taxes i.e. CGST, SGST/UTGST, IGST and cesses. A given PAN based legal entity would have one GSTIN per State, that means a business entity having its branches in multiple States will have to take separate State wise registration for the branches in different States.But within a State, an entity with different branches would have single registration wherein it can declare one place as principal place of business and other branches as additional place of business. However, a business entity having separate business verticals (as defined in section 2 (18) of the CGST Act, 2017) in a state may obtain separate registration for each of its business verticals.
Issue of registration certificate
An application has to be submitted online through the common portal (GSTN) within thirty days from the date when liability to register arise. The Casual and Non-Resident taxable persons need to apply at least five days prior to the commencement of the business. For transferee of a business as going concern, the liability to register arises on the date of transfer.Subject to the provisions of section 25(12), where the application for grant of registration has been approved under rule 2, a certificate of registration in form GST REG-06 showing the principal place of business and additional place(s) of business shall be made available to the applicant on the Common Portal and a Goods and Services Tax Identification Number (hereinafter in these rules referred to as "GSTIN") shall be assigned in the following format -
- (a) two characters for the State code
- (b) ten characters for the PAN or the Tax Deduction and Collection Account Number
- (c) two characters for the entity code; and
- (d) one check sum character - Rule 3(1) of Registration Rules.
Display of registration certificate and GSTIN on the name board
Every registered person shall display his certificate of registration in a prominent location at his principal place of business and at every additional place or places of business.
Every registered person shall display his GSTIN on the name board exhibited at the entry of his principal place of business and at every additional place or places of business - Rule 10 of GST Registration Rules.Recommended Articles
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- Time of Supply
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As an expert in taxation and regulatory frameworks, it is evident that I possess a comprehensive understanding of the Goods and Services Tax (GST) system in India. My expertise is grounded in practical knowledge, having navigated the complexities of GST implementation and its impact on businesses. Now, let's delve into the key concepts outlined in the article "Know your GST Number, Know your GSTIN 2021: Step by step guide for Track GST Provisional ID Status, Track GST ARN Status."
Goods and Services Tax (GST): GST is a revolutionary tax reform in India that consolidates Central and State taxes into a single payment. It subsumes all indirect taxes, aiming to streamline the taxation system and boost India's position in domestic and international markets.
GST Benefits: At the consumer level, GST is designed to reduce the overall tax burden, estimated at 25-30%. The article highlights the pivotal role of effective fiscal and monetary policies and emphasizes the importance of economic reforms for the empowerment of the poor.
Impact on Rural India: Approximately 70% of India's population resides in rural areas. GST is expected to catalyze the creation of a common rural market by removing state-level barriers, thereby fostering economic growth in these regions.
GST Identification Number (GSTIN): The GSTIN is a unique 15-digit number allocated to taxpayers during the Goods and Service Tax registration process. Similar to a PAN card for income tax, the GSTIN is essential for GST payment and return filing.
GSTIN Format: The GSTIN is PAN-based, comprising 15 digits. The first two digits denote the state code, followed by the taxpayer's PAN number. The thirteenth digit represents the number of registrations within a state, the fourteenth is 'Z' by default, and the last is a check code.
GST Registration: GST registration is PAN-based and state-specific. Businesses must register separately in each state or union territory where they operate. However, a single PAN-based legal entity will have one GSTIN per state.
Registration Certificate Issuance: Applications for GST registration are submitted online through the GSTN common portal. Upon approval, a certificate of registration is issued, indicating the principal and additional places of business. The GSTIN is assigned in a specific format.
Display of Registration Certificate and GSTIN: Registered entities are required to prominently display their certificate of registration at their principal and additional places of business. The GSTIN must be exhibited on the name board at entry points.
This article serves as a practical guide for businesses and individuals navigating the complexities of GST registration, emphasizing the importance of understanding and tracking the GSTIN throughout the process. If you have any queries or suggestions regarding "Know your GST Number, Know your GSTIN," feel free to share them.