This is Ravi Kumar, and today I am gonna show you the method of obtaining 2 GSTIN numbers on the same PAN card.
What tells us the section 25(1) of the CGST act?
The Goods and Service Tax (GST) is a vacation spot-primarily based indirect tax levied at the delivery of goods and services. It has changed many indirect taxes including VAT, carrier tax, CST, excise obligation, and so on. to establish GST as a comprehensive indirect tax, the government introduced the CGST Act with impact from 1st July 2017.
As per section 25(1) CGST Act 2017 – When any person undertakes their business activity in more than one state/UT, They are compulsorily required to be obtained separate GSTIN numbers for each unit and all these GSTINs be registered under one PAN only.
Importance of PAN Card
As mandated in the Income Tax Act of 1961, a PAN card is a haven for all individuals, corporations, partnerships, non-profits, and so forth. The IT department makes use of the PAN card to track all monetary transactions which take location inside the country
Getting a PAN card online enables a corporation to get hold of several remittances and invoices and is also useful while submitting IT returns. in case you are without a PAN card, you can not experience the tax benefits and schemes provided by the government and you may be vulnerable to paying taxes at the very best price applicable. if you don’t have one yet, it’s excessive time you observe on a PAN card online.
It’s additionally a count of private choice whether or not GST registrations can be completed with a single PAN card. This happens while a person operates many commercial enterprise verticals within the same state or UT. In this sort of situation, he can opt to have separate GST registrations for every of these verticals, problem to gratifying conditions noted in Sec 25 (2) of the CGST Act.