Answer By law4u team
GSTIN means Goods and Services Tax Identification Number. It is a unique fifteen digit number given to every business or person who is registered under the Goods and Services Tax system in India. GSTIN is issued by the government under the provisions of the Central Goods and Services Tax Act, 2017. It is used to identify taxpayers, track tax payments, and manage compliance under GST. The number is based on the PAN of the business along with state code and other digits for identification. Any business that crosses the prescribed turnover limit or falls under compulsory registration categories must obtain GSTIN. GSTIN is required for issuing tax invoices, collecting GST from customers, claiming input tax credit, filing GST returns, and doing interstate business transactions.
