A GST (Goods and Services Tax Identification Number) consists of 15 digits. Each digit in the GSTIN has a specific significance and serves as a unique identifier for businesses registered under the GST regime in India.
The 15-digit GSTIN is structured as follows:
The first two digits represent the state code, indicating the state in which the business is registered for GST. For example, the state code for Maharashtra is 27, while for Delhi, it is 07.
The next 10 digits are the PAN (Permanent Account Number) of the business entity or the individual proprietor. PAN is a unique alphanumeric identification number assign by the Income Tax Department of India.
The thirteenth digit is the entity code, which signifies the number of registrations within a state associated with the same PAN. It is usually assign based on the number of business verticals or branches under the same PAN.
The fourteenth digit is the “Z” by default, serving as a filler.
The last digit is the check code, which is use for error detection and is generate based on a mathematical algorithm.
To illustrate, a sample GSTIN could look like this: 27ABCDE1234F1Z5, where 27 represents the state code, ABCDE1234F is the PAN, 1 represents the entity code, and 5 is the check code.
It is important for businesses to ensure that they have a valid and accurate GSTIN(Goods and Services Tax Identification Number), as it is require for compliance with GST regulations, invoicing, and filing returns.
To Visit https://www.gst.gov.in/
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