About Goods & Service Tax (GST)
GST stands for Goods and Services Tax. It is the biggest indirect tax reform in the history of India. GST is a single tax on the supply of goods and services. It Primarily subsumed Service tax, Sales Tax & Excise.
It is a destination based tax. The Idea behind GST is of One Tax One Nation.1st July’2017 is the date when GST was launched at PAN India Level.
Each taxpayer is assigned a state-wise PAN-based 15-digit Goods and Services Taxpayer Identification Number (GSTIN).
Here is a format break-down of the GSTIN:
- The first two digits represent the state code as per Indian Census 2011. Every state has a unique code. For instance,
State code of Karnataka is 29
State code of Delhi is 07 - The next ten digits will be the PAN number of the taxpayer
- The thirteenth digit will be assigned based on the number of registration within a state
- The fourteenth digit will be Z by default
- The last digit will be for check code. It may be an alphabet or a number.