What is GSTN?

  • Blog|GST & Customs|
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  • By Taxmann
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  • Last Updated on 23 December, 2020
As the Goods & Service Tax was rolled out in July 2017, the term GSTN gained much prominence among the businesses and traders. GSTN or Goods & Service Tax Network is a Section 25 company, i.e. a non-government, non-profit organization. It has been formed with the sole purpose of providing the IT backbone to Government, pertaining to GST or Goods and Service Tax Law.   
 
GSTN helps India fulfill its dream of paperless transactions where the compliances related to GST can be performed digitally with maximum provision of automation.  

Key Features of GSTN:

1. Ownership:

 

It is partly owned by Central Government (49%) and partly by Private players (51%) which includes Banks and Financial Institutions. Since the Central Government holding is much larger than any individual Private holding, it ensures a complete control by the Government over the governing body of this institution. It also ensures data safely by preventing any misuse of taxpayer’s data.

 

2. Technology Partner: 

  Infosys is its technology service provider, which continuously strives to keep it updated and robust. Thus, making it a National Information Utility (NIU) being capable of handle a large number of confidential data on behalf of the Indian taxpayers.

 

3. Management: 

  The team at GSTN is led by Mr. Navin Kumar as its Chairman and Mr. Prakash Kumar as its CEO.

 

 

4. Dynamic Nature: 

 
GSTN is thoroughly capable of handling complex transactions arising of Inter-State Goods & Service Tax (IGST) transactions. A strong and secure IT infrastructure enables rapid process and exchange of data between the taxpayers and the GSTN network. 
 

Functions of GSTN Portal:

The GSTN portal acts as a window for interaction between the GST taxpayers of the country and the Department. This portal facilitates end-to-end compliances regarding GST Tax which includes registration of the taxpayers in order to receive the GSTIN to file Invoice details and Returns subsequently.    It would also facilitate payment of taxes by the taxpayers and refunds, if any. It is to be noted that no part of the money paid as tax is retained by the GSTN. It merely facilitates the payment gateway through its infrastructure to the Department. 

What is GSTIN?

As discussed above, every taxpayer upon registration with GSTN common portal is given a unique 15-digit, alpha-numeric id known as GSTIN. It comprises of its PAN number and codes denoting the State it is registered in, entity number in that particular state, alphabet ‘Z’ and a check code of a single number.

How to Apply for GSTIN?

Application for GSTIN is a part of the GSTN registration procedure which is completely free of cost.  Once the application for registration is submitted by the taxpayer, it is ratified and approved by a GST officer. Once these procedures are completed, the business or trader who has requested for GSTN registration is allocated a unique 15-digit GSTN id.
 
The registration with GSTN is facilitated through two ways, namely-
 
• Through the GSTN portal
• Through numerous GST Seva Kendras, located throughout the country. (https://www.indiafilings.com/find-gst-seva-kendra/)
 

How can Taxmann help you with GST Compliances?

Taxmann is one of the 34 GSPs appointed by the GSTN to offer GST related services to the taxpayers. We are also offering ASP services, thus providing a complete package of services to all classes of businesses, traders, dealers, tax professionals, ERPs, etc.  With 5 decades of in-depth domain knowledge and best in-class technology infrastructure, we offer you scalable and secure dataflow between you and GSTN server with Microsoft Azure Cloud Services.  You can track and maintain a detailed log of transactions made between your server and GSTN. We safeguard every piece of data exchanged through highly robust data encryption facility. Ours is an ISO 27001 certified ASP-GSP compliance process, known as One Solution which allows you to perform end-to-end compliance related activities for multiple GSTINs.  Here, you can bulk import invoices in Excel format or synchronize with your existing Accounting Software. This would allow you to prepare GST compliant invoices for filing its details with GSTN, followed by filing of monthly returns, reconciliation of Sales and Purchase Register, Computation of Tax liability and payment of Goods & Service Tax.   

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