Another rule has been announced to display GST number on sign board.
Government has made it mandatory for businesses and traders to display
registration certificate in their business premises and write their GSTIN on
their sign boards.
It is important for every trader or businessman to avail GST (Goods and Service Tax) number and display it as per the government’s instructions to become compliant with this new rule. Traders availing a composite scheme should mention the same as they are not entitled to collect taxes. All this juggling is done to bring transparency in the system.
With this step, consumers will able to know whether their service provider is registered with GST or not. Neither the trader can charge consumers illegally nor collect any money under the name of tax if firm is not registered under GST. Displaying information of registration will educate people and they can easily know whether the person from whom they are purchasing goods or services is entitled to collect tax or not.
GSTIN is allotted to taxpayers when they register their firm on GST Network Portal. This is a 15-digit number. Generally, GSTIN has to be claimed with 90 days after registration. Till that time, provisional ID will be given to an applicant. It is later converted in to GSTIN. Failure to complete the registration process within the prescribed time of 90 days will make your provisional ID stand cancelled.
GST is a subsumed tax which integrates excise, VAT, and other indirect taxes. It is already implemented from 1st July 2017.
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