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It is mandatory for companies having a turnover of more than Rs.20 lakhs upon buying and selling goods to complete GST registration. Once the registration is complete, every taxpayer is assigned a unique identification number, which is known as GSTIN. This article explores what GSTIN is, its benefits, how to search it by PAN number, and its format.
Goods and Services Tax Identification Number or GSTIN is a unique identification number that is allotted to every taxpayer who is registered under the GST regime. This number can be searched either by name or by PAN.
One business entity can have many GSTINs for its different branches. You need a separate GSTIN when dealing with a business from a different state or Union Territory in India. The companies already registered under the previous laws were automatically transferred to the GST system and given their GSTIN. In contrast, the new registrants received new GST numbers.
GSTIN plays an important role in claiming refunds and filing GST returns. Given below are the benefits of GST number -
GST Identification Number is a state-specific unique number based on PAN. GSTIN is a 15-digit registration number that consists of a state code, entity code, PAN, and check digit.
GSTIN can be searched using an individual’s PAN in the following manner -
A GST search by PAN provides the information given below -
The GST identification number assigned to an entity is in a specific format. The GST number format is given below.
The GST number is a 15-digit alphanumeric number wherein -
Hope this article helped you understand more about GSTIN. Need help with GST registration? Book an online CA Now!
The GST portal allows you to find proprietor names using their GST number. To do this, visit the GST web portal at www.gst.gov.in and follow the instructions. Once on the website, select the "SEARCH TAXPAYERS" option and click on the "Search by GSTIN" tab.
Under the Goods and Services Tax (GST), businesses with a turnover exceeding Rs. 40 lakh, Rs. 20 lakh, or Rs. 10 lakh, depending on the case, are required to register as a normal taxable person. This process is known as GST registration. For some businesses, GST registration is mandatory.
Businesses with annual revenues below these limits are not required to register for GST, but they can choose to do so voluntarily to avail of its benefits like Input tax credit. It's also important to note that special category states in India have different threshold limits because of their unique economic conditions.
A penalty of Rs. 10,000 or 10% of the tax due, whichever is higher, is imposed for not registering for GST when required. Additionally, a penalty of Rs. 10,000 or the amount of tax collected, whichever is higher, applies if GST is collected but not deposited with the government within three months.
Goods and Services Tax Identification Number (GSTIN) serves several important functions beyond just identification, including:
The GST portal allows you to find GST numbers using a PAN card. If you want to know your GST number with a PAN card, visit the GST web portal at www.gst.gov.in. Navigate to the "Search Tax Payers" option and click on the "Search by PAN" tab. Enter the PAN number and then click the "SEARCH" button to find the associated GST number.
