What is the GSTIN?
The GSTIN (Goods and Services Tax Identification Number) is a unique registration number assigned to businesses in India registered under the Goods and Services Tax (GST) system. It is used for collecting and reporting indirect taxes in India.
Who needs it?
All businesses in India exceeding the prescribed turnover threshold must register for GST and obtain a GSTIN. Foreign businesses supplying goods or services in India may also need a GSTIN.
When is it required?
The GSTIN is mandatory for all taxable entities engaged in the supply of goods or services in India above the threshold. Without a GSTIN, a business cannot issue valid tax invoices.
How to apply?
A GSTIN is obtained through the official Indian GST portal. Once registered, the business is assigned a unique 15-digit GSTIN.
Practical example
A US-based e-commerce company selling software subscriptions to Indian customers must register for GST and obtain a GSTIN to comply with Indian tax regulations.
Importance for international trade
The GSTIN ensures transparent tax compliance and simplifies cross-border transactions with India. It helps foreign businesses operate legally and avoid penalties.