Skip to main content

A Proper Explanation of GSTIN with the Difference of GSTN

Image
By
Quick Guide to GSTIN with GSTN Difference

Explanation of 15 Digits GSTIN or GST Number

A unique TIN number was assigned by each state tax authority to all dealers registered under state VAT laws before GST implementation. As an example, the CBIC assigned service providers a number identifying them as service providers.

Each registered taxpayer is consolidated under the GST regime into one single platform and assigned registration under one authority for compliance and administration purposes.

Businesses operating in states and union territories will be issued a GSTIN (Goods and Services Tax Identification Number).

How GSTIN is Structured

In order to determine a taxpayer's eligibility for Goods and Services Tax, the state assigns a 15-digit PAN-based GSTIN.

GST Identification Number India

An explanation of the GSTIN's format is given below:

  • In accordance with the Indian Census 2011, the first two digits correspond to the state code. There is a unique code for every state. The following are some examples:
    • There is a 29-digit state code for Karnataka
    • Delhi has the state code 07
  • A taxpayer's PAN number will appear after the next ten digits
  • Based on the number of registrations within a state, the thirteenth digit will be assigned
  • There will be a default fourteenth digit of "Z"
  • A check code will appear as the last digit. A number or an alphabet may be used.

What is the GSTIN Application Process?

In order to register for GST, you must complete this step. An individual GSTIN is assigned to the dealer once the application is approved by the GST officer.

GST Registration Can Be Done in Two Ways:

  • via Government GST Online Portal or
  • via Authentic GST Seva Kendra

To apply for GST, you must provide the following details:

GST Registration

Cost to Get a GSTIN

Registration for GST and obtaining GSTIN are free of charge.

What is the difference between GSTIN and GSTN?

It is important not to confuse GSTIN with GSTN. GSTIN is a number that is used to register for GST. In opposition to this, the GSTN is the organisation responsible for managing all the IT infrastructure and systems related to the GST portal. Using this portal, the Government of India will be able to track every financial transaction and provide a range of tax-related services to taxpayers, including registration, filing, and maintenance.

Comments

Post a Comment

Popular posts from this blog

A Full Guide to GST E-Way Bill 2 for Faster Compliance

By
  Have you encountered any challenges while trying to create a GST E-way bill using the government portal? If yes, SAG Infotech is here to provide some important solutions for you. NIC has launched the GST E-Way Bill 2 Portal. Designed to Offer GST E-way Bill Services with High Availability Using the e-way bill site, taxpayers and logistics operators can log in with their current account and password. Data from the GST E-way Bill2 site will be verified, combined, and available on the main GST E-way Bill portal for all business and analytical objectives. To guarantee that e-invoice generation is unaffected, this portal is integrated with another e-invoice portal for e-way bill generation. Users can freely create and amend E-Way Bills using the GST E-Way Bill2 Portal. The seamless integration and merging of the e-Waybill1 and e-Waybill2 systems will lessen reliance on the e-Waybill1 system in emergencies. E-way bill details are synchronised with the main portal in only a few seconds
Post a Comment
Read more

Gen Online Payroll Software for Small Business in India

By
In today's digital world, every person and businessperson works very hard to manage data manually, which can be a time-consuming and labour-intensive task, particularly when information needs to be constantly updated and verified. Likewise, managing large volumes of employee-related data can be a challenging and overwhelming task for HR professionals. Therefore, to address the workload and complexity of these tasks, the IT sector has developed Payroll software. In recent years, we have seen a huge growth in the number of Payroll software options. Yes, there are many types of HR Payroll software available in the Indian market at present. If you're looking for a reliable and popular payroll software option, you can choose Gen Online Payroll software, brought to you by SAG Infotech. Whether the business is medium or small, Gen Payroll software can make managing numerous important tasks of a human resources manager hassle-free. The Online Payroll software assigns a unique
Post a Comment
Read more

GST Collection of August 2024 Reaches INR 1.75 Lakh Crore

By
Concerning the financial front, gross GST collections for August 2024 show a strong 10% growth, reaching approximately ₹1.75 lakh crore.  This surge, driven by robust domestic consumption, led to a 9.2% increase in GST revenues from domestic transactions to approximately ₹1.25 lakh crore. Revenue from imported goods also saw a substantial rise of 12.1%, totalling ₹49,976 crores.  Despite the overall growth, there was a slight decrease from the ₹1.82 lakh crore collected in July 2024 when compared month-on-month. However, industry experts remain optimistic.  They point out that the 10% year-on-year increase at the commencement of the festive season is a strong indicator of sustained and potentially growing consumption in the upcoming months. The government's ongoing efforts to simplify the GST process, especially through measures such as adjusting rates to lower working capital expenses, have been positively acknowledged.  This dedication is also evident in the ₹24,460 crore in
Post a Comment
Read more