The term GSTIN stands for the Goods and Service Tax Identification Number. The GSTIN number provided is 15 digits. This GSTIN number is important during registering for GST. One can avail of the GSTIN number free of cost.
•How to Apply for getting the GSTIN Number?
Various official documents need to be produced at the time of obtaining the GSTIN Number. One can easily get the GST number by producing the following documents.
- Details of Bank
- Authorization Details
D. Proof of address for the Business
E. Some other Official Documents in case of Taxpayers
One must have to get to these documents before applying for the GSTIN number.
• The Format of The GSTIN Number?
You will be provided with the GSTIN number after getting registered for the GST online.
•What does the GSTIN number consist of:
- The first two codes of the GSTIN number consists of State Code.
- The 10 digit PAN number contains the next 10 codes of the GSTIN number.
- The serial number of registration that was created by the state entity of that particular state forms the 14th code of number.
- ‘Z’ is The 14th digit by default.
- The last digit can be any alphabet or number depicting the Check Code.
•How GSTIN Allocation is Created?
There are two stages of the GSTIN verification process. Let’s have a look at both stages:
One should search for how to apply for GST registration before trying to understand the GSTIN Allocation and what the two phases are all about.
First Phase: A provisional GSTIN number
is issued to the businesses once they get registered in the GST Network Portal.
Second Phase: After getting the provisional number, the entity has to provide the business details by logging on to the GSTN Portal. The details asked there are mainly about the business addresses, Director details and bank account details of the directors.
After submitting the details, the second phase of GSTIN allocation gets finished.
An LLP company can be allocated GSTIN once the LLP registration process gets finished.
•How to Prevent The Misuse of GSTIN:
Many times, suppliers cheat the consumers by misusing the GSTIN. So, how to prevent it:
- Sometimes suppliers create a fake GSTIN to cheat the Government.
- Many suppliers create fake invoices to evade tax liability.
• What is The Cost of Obtaining a GSTIN Number?
It is free to Obtain the GSTIN number. All you need is to apply online for it.
•How Can XYZ Help in the Entire Process?
With giving the GSTIN to new candidates, it is additionally important to know regarding what is GST enlistment, how to properly document a GST return, what is the standard that is related to GST Nil Return, and GST modifications too.
The experienced professionals from XYZ can help you a lot with all the aspects of GST from registration to everything with a minimum amount.
You can even get assisted to file the most important GSTR 9 by the XYZ team.