CONSEQUENCES YOU NEED TO FACE IF YOU DO NOT DISPLAY GSTIN IN YOUR PLACE OF BUSINESS
GST was implemented from 1st July 2017. GST is considered to be One Nation One Tax by the Government. The Government's main aim is to provide a simplified and single Tax regime.
GST is a dual levy where the Central Government levies tax and collects CGST and the State Government levies tax and collects SGST on intra-state supply of goods or services. Central Government also levies tax and collects Integrated GST (IGST) on inter-state supply of goods and services.
The CGST Rules,2017 were brought into action to effectively implement the GST Law. One such law relates to the Display of GST Registration certificate.
This Blog highlights the necessity of a Registration Certificate under GST.
Provisions related to Registration of Certificate under GST:
What is GST Registration Certificate?
GST Registration should be done by a business whose turnover exceeds the prescribed limit. Every registered taxpayer will be issued a GST Registration Certificate in Form GST REG-06. A registered taxpayer can also download the Certificate from the GST Portal. The GST Registration Certificate can only be downloaded only from the GST Portal the Government will not issue any certificate in the physical form.
What is GSTIN?
Goods and Services Identification Number (GSTIN) is a unique 15–digit identification number assigned to every taxpayer registered under GST. Every taxpayer under the GST regime is provided with a State + PAN-based 15-digit Goods and Services Taxpayer Identification Number (GSTIN).
Initially, a business is given a provisional ID on logging into the portal and within 3 months the business has to complete the registration process by giving details of the business. This provisional ID is then converted to GSTIN. Here is the breakdown of the GSTIN format:
What do you mean by “Place of Business”?
As per GST authorities in India, Principal Place of Business is the primary location within the State where a taxpayer’s business is performed. The principal place of business is generally the address where the business’s books of accounts and records are kept and are often where the head of the firm or at least top management is located.
Additional Place of business is the place of business where the taxpayer carries out business-related activities within the State, in addition to the Principal Place of Business.
According to the GST Act, the taxpayers should display the GST registration certificate in a prominent location at the principal place of business and all additional places of business. Hence, in an office or shop, the taxpayer shall also display the GST registration certificate at the entrance or near the billing section.
What are the Consequences for Not Displaying GSTIN?
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