What is GSTN?
- Blog|GST & Customs|
- 3 Min Read
- By Taxmann
- Last Updated on 27 November, 2023
Key Features of GSTN:
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.
The team at GSTN is led by Mr. Navin Kumar as its Chairman and Mr. Prakash Kumar as its CEO.
4. Dynamic Nature:
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?
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.
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied