What is the Full Form of GSTIN?

Every taxpayer (most commonly a dealer, supplier, or other business entity) registered under the GST regime is given a unique 15-digit identification number. The full form of GSTIN is Goods and Services Tax Identification Number.

It costs nothing at all to register for GST and to obtain a GSTIN. Before the introduction of GST, each state’s tax authority would assign a special TIN number to each merchant registered under its state VAT statute; the GSTIN number has since taken its place. A special identifying number known as the GSTIN is now given to business entities registering under the GST.

GSTIN Meaning & Structure

A 15-digit Goods and Services Taxpayer Identification Number (GSTIN), based on the State + PAN combination, is given to each taxpayer under the GST regime.

Following is a description of the GSTIN format:

Goods and Services Tax Identification Number (GSTIN)

• The state code is represented by the first two digits of the GSTIN’s 15 digits.
• The PAN of the person or business organisation is the next 10 digits.
• The thirteenth digit is depending on how many times the company has registered under the same PAN within a state.
• By default, the fourteenth digit will be the letter “Z”.
• The final digit, known as the “check code,” is used to identify mistakes and may be represented by a number or an alphabet.

What are the Benefits of Getting GSTIN?

Below mentioned are the benefits of getting GSTIN:

• Legal acceptance of the company as a provider of products or services. This, in turn, aids in bringing in more clients and expanding business.
• As buying from small firms ensures input credit, you will become more competitive than them.
• If a person has a GSTIN, they are eligible to claim input credits for their own goods and services. 
• There are no limitations on interstate sales (they will be considered passing via taxable individuals). As a result, the potential market for SMEs expands.
• Either create your own e-commerce website or register on existing ones. This will once more broaden the range of a registered person’s business. 
• Your company will be compliant if you register for GST (because the majority of returns are automated). This will lead to a nice outcome.
• Download the application form for the class you want to apply for from the school’s official website.
• If the candidate fulfils the criteria, they are called for an entrance exam on a particular date and time.
• If the candidate qualifies for the entrance test, they are invited for an interview by the school along with their parents. 
• After the interview, shortlisted candidates need to submit relevant documents for verification and pay the fees before the due date to finalize their admission to the school.

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