A UIN number, or Unique Identity Number, is a special ID given to specific organizations or people instead of the regular GSTIN (Goods and Services Tax Identification Number).
Here’s who gets a UIN Number:
- Agencies under the United Nations or international financial organizations like the IMF, UNESCO, and WHO, which are protected under the United Nations (Privileges and Immunities) Act of 1947.
- Foreign embassies or consulates.
- Other individuals or entities that may be notified by the GST Commissioner.
These organizations do not sell taxable goods or services, but they do pay taxes on the items they purchase (“inward supplies”). The UIN allows them to easily claim a refund for these taxes. It is a 15-digit number, just like a regular GSTIN, designed to make the refund process easier for them.
What is UIN Number?
The UIN (Unique Identification Number) is a special identity-wide variety issued under the Goods and Services Tax (GST) framework in India. It is usually assigned to entities like:
- Foreign diplomatic missions and consulates.
- Specialized agencies of the United Nations.
- Multilateral economic establishments and agencies were notified beneath the United Nations (Privileges and Immunities) Act, 1947.
Other specific persons are eligible for refunds underneath the GST regime.
These businesses can declare a refund of the taxes paid on their purchases in India, the usage of their UIN number.
What is GSTIN?
What virtually topics for maximum providers and groups operating on structures like Meesho is the GSTIN (Goods and Services Tax Identification Number). GSTIN is a completely unique 15-digit quantity assigned to each taxpayer registered beneath GST. It additionally assists the government in monitoring tax compliance, collecting GST, and making sure that organizations pay appropriate taxes on the sale of products and offerings.
UIN Number vs. GSTIN: What’s the Difference?
While the UIN is for cross-border transaction services and other specialized entities claiming tax refunds, the GSTIN applies to businesses including sellers on platforms like Meesho for reporting sales and paying GST.
- UIN Number is issued to non-commercial entities for tax refunds.
- GSTIN is issued to businesses to collect and remit GST on goods and services sold in India.
How Does GSTIN Work on Meesho?
If you sell on Meesho, you will need GSTIN in most cases, as it is a legal requirement for businesses with an annual turnover of more than ₹40 lakh (₹20 lakh in some countries). Let’s explore how GSTIN works for sellers in Meesho.
1. GST Compliance for Sellers
You will be asked to provide your GSTIN while registering as a seller with Meesho. This ensures that your business is GST-compliant. The correct GST will be applied to every sale you make, ensuring tax transparency between you, the customer, and the government.
2. Listing and Selling Products
Once you’ve got your GSTIN, you may list your merchandise on Meesho. For every product, Meesho will calculate and observe the perfect GST fee based on the HSN (Harmonized System of Nomenclature) code for the product. The HSN code is used to categorize items and decide the relevant GST rate.
3. Invoicing on Meesho
Meesho robotically generates invoices for each sale. The invoices encompass:
- Your enterprise call.
- Your GSTIN.
- The relevant GST fee (SGST, CGST, or IGST depending on whether the sale is intra-nation or inter-kingdom).
- Total price, inclusive of tax.
These invoices help you maintain the right records and make sure that you and your shoppers are aware of the taxes being carried out.
4. Filing GST Returns
As a GST-registered seller, you are required to submit GST returns on a regular basis. Meesho provides detailed reports on your sales and GST collection on a case-by-case basis, making it simple for you to submit an accurate GST return to the government.
As a GST-registered seller, you are required to file GST returns on a regular basis. Meesho provides detailed reports on your sales and GST collection on a case-by-case basis, making it easy for you to file an accurate GST return with the government.
5. GST Exemptions for Small Sellers
If your turnover is less than ₹40 lakh per annum (₹20 lakh in some states), you may not need GSTIN. In such cases, Meesho may require you to register as a subscriber, which means no GST will be charged on your goods. However, this may limit your ability to sell to certain groups or customers.
UIN number and Meesho: Are They Relevant for Sellers?
In general, the UIN is not directly applicable to Meesho vendors unless you are a foreign diplomat or special organization eligible for a GST refund. GSTIN is a valid identification number for branded sellers at Meesho, as it ensures compliance with Indian GST laws.
How to Apply for GSTIN as a Meesho Seller
If you are a seller in Meesho or planning to start selling, here is a quick guide to get GSTIN:
- Visit GST Portal: Visit the official GST portal to start new registration.
- Submit details: Fill out the registration form. And mention your work details, PAN number details, and contact details.
- Upload required documents: Provide all the required documents, like your business address proof, bank account details, your photograph, and your PAN card.
- Verification: Upon submission, the authorities will verify all details. They issue you a GSTIN, this process takes a few days.