If you are running a business under the current Goods and Services Tax (GST) structure, you will have to register for a Goods and Services Tax Identification Number (GSTIN). Failing to do so will result in dire consequences. Before getting into the process of GST online registration, here’s what you need to know about GSTIN.
What is GSTIN?
GSTIN is a unique identification number assigned to every business that is registered under the GST regime. It is made up of 15 digits. GSTIN has a bunch of uses and benefits.
- For starters, your GSTIN helps convey that your business is authentic. Filing your GST returns on time without any malpractice can help ensure your business is transparent, and in turn, allow you to be in good books with the government and the market.
- Secondly, the GST regime has made provisions to claim your Input Tax Credit. Having your GSTIN ready can help you receive income tax returns on the tax payments that you make, provided they are made consistently. It should go without saying that you need to enter your GSTIN correctly.
- Finally, registering your business to a GSTIN allows you to reach out to your market more effectively and boost your business by conducting inter-state transactions and enhancing E-commerce.
What is the format and structure of the GSTIN?
The format of the GSTIN is as follows:
- The starting two digits of the GSTIN represent the state code.
- The ten digits that follow represent your Personal Account Number (PAN).
- The 13th character of the GSTIN denotes your registration number with the submitted PAN.
- The last two characters are ‘Z’ and a check code respectively.
How do I go about the GST Registration Process?
Chances are you’ve got a decent grasp on the importance of having a GSTIN in place for your business. If you want to know how to register for GST, follow these steps:
In the first step, visit the GSTN portal and select the ‘Register Now’ button that will pop up under the ‘Taxpayers (Normal)’ tab.
Then hit the ‘New Registration’ option and click on the ‘Taxpayer’ tab in the menu that you should find under ‘I am a.’ Then, enter your corresponding state and district details correctly, as well as your name, mobile number, email ID, and PAN. After this, you should get a one-time password on the mobile number you are using to register.
Once you receive your OTP, enter the number and hit ‘Continue.’
Now, you should receive a Temporary Reference Number (TRN).
You will have to make sure you click on ‘Register now’ as you head back to the GSTN portal.
In this step, enter your TRN and the corresponding CAPTCHA code that pops up and proceed to the next step.
You should find your application in the form of a draft on the GST portal. Hit the edit button.
This step involves submitting a few critical documents like your proof of business location, photographs as proof of ID, bank account details, proof of constitution, and an authorized form.
Go to the verification page, verify the declaration, and send in your application.
At this point, you should get a message confirming the GST registration process was successful and receive an Application Reference Number (ARN) on the number or the email address that you used for the registration.
How do I go about GST Number Search?
Given how there are a bunch of businesses issuing fake invoices, you will need to know how to go about GST no search. This is what you need to know if you want to check your GST number:
GSTIN search by name
If you want to check your GST number by name, consider using tools like KnowYourGST or Masters India.
GSTIN Search using PAN
GST check using your Personal Account Number is a fairly simple process. You start by visiting the GSTN portal. Then, select the ‘Search Taxpayer’ tab that shows up on the menu. After this, click on the ‘Search by PAN’ option.