GST: Traders need to declare GSTIN for export, import

GSTIN is a 15-digit alpha numeric number code with PAN prefixed by state code and suffixed by 3 digit details of business verticals of the PAN holder.

Traders would have to declare only their GST Identification Number at the time of import or export after the implementation of the Goods and Services Tax (GST) on July 1, according to the Commerce Ministry.
 
A present, all exporters and importers declare their import-export code (IEC). However, they will only need GSTIN after the implementation of the new tax regime for the purpose of credit flow of IGST on import of goods; refund or rebate of IGST related to export. 
 
To promote ease of doing business, it has been decided to keep the identity of an entity uniform across the ministries and departments. PAN of an entity will be used for the purpose of IEC post GST implementation.
 
Registration number under GST is GSTIN. It is a 15-digit alpha numeric number code with PAN prefixed by state code and suffixed by 3 digit details of business verticals of the PAN holder. 
 
(Source: Agency) 

Event date: 
Tuesday, June 13, 2017

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