Goods And Service Tax Identification Number (GSTIN)
GSTIN is Goods and Service Tax Identification Number. Applicants that must register under GST or the Goods and Service Tax. GSTIN number is a 15-digit alphanumeric number, issued to taxpayers (for example, traders, dealers, manufacturers and exporters). GSTIN is a PAN number and the State Government issues it.
How To Get GSTIN Number?
There are two ways to apply for GSTIN number, that is through the GST online portal or the GST Seva Kendra. The application process consists of two parts, Part A and Part B. To get GSTIN number in India online, an individual needs the following:
- An applicant can obtain a GSTIN number or GSTIN registration number of suppliers and dealers logging on to https://services.gst.gov.in.
- Click on ‘register now. An applicant must fill in Part A of the application. This includes details such as name, valid mobile number, email address, etc.
- The GST portal sends a verification OTP to the mobile/email address provided.
- Once an applicant is verified, they will receive an Application Reference Number (ARN). The ARN is then sent over mobile/email.
- An individual must now fill up Part B of the application using the application reference number. An individual needs to submit photographs, authorization form, proof of place of business, valid bank account (in India) and IFSC details and constitution of the taxpayer.
- The application must submit the application using a Digital Signature Certificate (DSC) or Aadhaar One-Time Password (OTP).
*(list of documents required for GST registration)
How Long Does It To Take To Get GSTIN Number?
A GST application officer accepts/rejects an application within 3 days. An applicant receives a Certificate of Registration (GST-REG-06) if their application gets approval. An applicant may have to provide more information in form GST-REG-03 if the GST officer asks for it. The form must be submitted within 7 days from the date of application. And thus, this stage, the officer can approve the application or reject the application (GST-REG-05).
Penalty For Not Having a GSTIN Number
A business will be required to register under GST as a normal taxpayer if it earns more than INR 20,00,000 per annum. The penalty for not paying tax is 10% of the tax amount due. This amount is subject to a maximum of INR 10,000. If a taxpayer has deliberately committed fraud or tax evasion then the penalty is 100%.