Sage-Tips

Is a company number the same as a GST number?

For sole traders, your GST number will be the same as your IRD number. For partnerships and companies, it’s the same as your partnership or company IRD number.

Is registration certificate and GST certificate same?

Every taxpayer who has successfully registered under GST is issued a GST registration certificate in form GST REG-06. The registration certificate is available for downloading only on the GST Portal, and the government does not issue any physical certificate.

Are all companies registered for GST?

As a business owner, it’s your responsibility to register for GST if your turnover exceeds the $75,000 threshold or is likely to exceed it. The ATO advises that if you’ve just started a new business and expect it to earn $75 000 or more in its first year of operation, you should register for GST.

Can I register company without GST?

As per the GST Act, if your financial turnover is above Rs 40 lakhs, then you need to register under GST. No organization and business can carry on business without registering under GST guidelines. Incorrect GST Returns entries, results in rejection of the input tax credit, in addition with penalties.

How do I find out if a company is GST registered?

GST Identification Number Format

1. First 2 numbers → State code of the registered person.
2. Next 10 characters → PAN of the registered person.
3. Next number→ Entity number of the same PAN.
4. Next character → Alphabet Z by default.
5. Last number → Check code which may be alpha or digit, used for detection of errors.

What is a GST registration number?

A goods and services tax (GST) number is a unique tax identification number assigned to a business by the Canada Revenue Agency (CRA). You will also use your GST number in the course of doing business. Once you have been assigned a number, you are required to show it on your invoices.

Is registration number and GST number is same?

Do not get confused between GSTIN and GSTN. GSTIN is a tax registration number under GST. Whereas, the Goods and Service Tax Network (or GSTN) is an organisation that manages the entire IT system of the GST portal.

Why a company is not registered for GST?

Goods and Services Tax (GST) is usually part and parcel of running a business. A business with an annual turnover of $75,000 or more needs to register for GST and if it is less than that, you can choose to not register. The registration must be made within 21 days.

When should a company register for GST?

You must register for GST:

1. when your business or enterprise has a GST turnover (gross income from all businesses minus GST) of $75,000 or more – see Working out your GST turnover.
2. when you start a new business and expect your turnover to reach the GST threshold (or more) in the first year of operation.