How do you Get your GSTIN Number? – Step by Step Guide
The GSTIN number or the Goods and Services Tax Identification Number is a 15-digit numeric code provided to GST-registered business entities. This number has replaced the previously applicable Tax Identification Number (TIN), which business entities received upon registering under VAT.
The GSTIN is assigned based on the state in which a business entity is headquartered.
The Format Of The GSTIN Is Mentioned Below –
- The initial 2 digits are the state code in which the business entity is headquartered. This code is based on the 2011 Census.
- The next 10 digits are the PAN number of the business organization.
- The following digit represents the number of GST registrations that have been made against a PAN card in the state.
- The 14th digit is Z.
- The 15th and the last digit can either be a numeral or an alphabet. It will be used for error detection.
GST was launched in 2017 and subsumed 17 different indirect taxes. Its motive of “one nation, one tax” was achieved through the implementation of GSTIN, a unique identity number, which every eligible business entity in India needs to possess.
How To Apply For GSTIN Number?
When you register your business under GST, you receive a GSTIN number. In case your business is already registered with GST, you can know what GSTIN is and how to know yours by visiting the official GST portal.
In Case You Are Not Registered, Adhere To The Following Steps To Register For GST Online –
- Visit GST’s official portal.
- Under the “Services” section in the taskbar, click on “New Registration”.
- Provide your credentials as required and click on “Proceed”.
- You will receive two OTPs on your registered phone number, and email ID, which you need to enter in the designated fields.
- After the verification of OTPs, you will be sent a TRN or Temporary Reference Number on your phone number and email ID.
Repeat The First Two Steps In Order
- Click on “Temporary Registration Number”.
- Provide your TRN in the designated field and enter the captcha as provided below.
- An OTP will be sent to you on your registered mobile number and email ID, which you need to furnish on the next page.
- You can view a draft of your application status on the next page. Click on the edit icon marked in blue.
- Upload the necessary documents.
- Upon successful submission, go to the “Verification” page.
- Check the declaration box and submit your application with a digital signature certificate or DSC.
After completion, you will be shown a message implying a successful application process. Once your application has been approved after due verification, you will receive your GST identification number through your mail.
Several institutions in India now require you to submit your business’ GSTIN number as part of the documentation process when you apply for facilities such as a business loan.
Bajaj Finserv is one of the NBFCs that offer such loans with a competitive rate of interest rates and attractive terms.
Documents Required To Avail A Goods And Services Tax Identification Number
You need to submit the following documents to receive your GSTIN number –
- PAN card of your business and one of the authorized signatory’s.
- Proof of ownership or holding rights of your primary office premises and its location.
- Legitimate bank account number of your business organization.
- Identity proof of directors/owners with their photographs.
- Board resolution or letter of authorization.
The implementation of GST was a revolutionary moment in the indirect tax regime in India. However, its impact has remained relatively underwhelming compared to its objectives set during its implementation.
The impact of GST on small and medium-sized businesses has been particularly noteworthy. Post-GST, this sector has faced multiple crises in terms of revenue generation.
However, several financial experts have come on record to confirm that GST is a work-in-progress and will arrive at its objectives in due time. Henceforth, if your organization falls into the criteria required for registration, consider availing a GSTIN number as early as possible.