The Unique Identification Number (UIN) under the Goods and Services Tax (GST) system is a special classification provided to specific entities such as diplomatic missions, United Nations bodies, and other notified agencies. This classification allows these entities to claim refunds on the GST paid on their inward supplies. The UIN is primarily designed to facilitate tax-free operations for these entities.
To learn about associated costs, refer to the GST registration fees that may apply during the process.
The UIN is issued to specific entities for the sole purpose of claiming tax refunds. It serves as a unique identifier and allows for the tracking and verification of transactions made by these entities. It is important to note that the UIN is distinct from a regular Goods and Services Taxpayer Identification Number (GSTIN) and is exclusively meant for the entities mentioned above.
Who can apply for UIN under GST?
Entities eligible to apply for a Unique Identification Number (UIN) under the Goods and Services Tax (GST) regime include diplomatic missions, consulates, United Nations (UN) bodies, and other specified international organisations. These entities require a UIN to claim refunds on the GST paid for goods and services used in their official functions. In addition to the UIN, businesses may also need a GST certificate (download) for compliance purposes.
Diplomatic missions and consulates, UN bodies, and other international organisations are eligible to apply for a UIN.
Additionally, entities notified by the GST Council are also eligible to apply for a UIN.
What is the purpose of a UIN?
The purpose of a UIN is to enable specific entities, such as diplomatic missions and international organisations, to claim refunds on the GST paid on their purchases. This ensures that these entities operate tax-free, in line with international agreements and treaties.
For more details on how GST aligns with broader financial and legal requirements, explore GSTN under PMLA and its significance in compliance.
- Facilitates tax-free purchases for eligible entities.
- Ensures compliance with international agreements.
- Streamlines the refund process for GST paid.
What is the difference between GSTIN and UIN?
Goods and Services Tax Identification Number -abbreviated as GSTIN, is assigned to regular taxpayers under GST. On the other hand, UIN whose full form is Unique Identification Number, is assigned to specific entities like diplomatic missions and international organisations for claiming GST refunds.
- GSTIN is for regular taxpayers, while UIN is for specific entities like diplomatic missions.
- GSTIN allows tax collection and credit, while UIN facilitates refunds.
How to register as a UIN?
To register as a UIN holder, eligible entities must submit an application in Form GST REG-13 through the GST portal. All you need to do is provide relevant details and documents to support your eligibility and comply with the prescribed procedures.
If you encounter any issues during registration, you can troubleshoot them using resources like the GST site not working guide.
- Submit Form GST REG-13 on the GST portal.
- Provide necessary documents and details to complete UIN number registration
- Within 3 working days of the application, you will receive a registration certificate via Form GST REG-06.
What returns should be filed by a UIN holder?
UIN holders must file Form GSTR-11 to claim refunds on GST paid on inward supplies. This return must be filed for every quarter in which the entity makes purchases and claims refunds.
- File Form GSTR-11 quarterly.
- Claim refunds for GST paid on inward supplies.
- Ensure timely and accurate filing.
What should a seller supplying to a UIN holder ensure?
When conducting a sale to a UIN holder, it is of utmost importance to ensure that the Unique Identification Number (UIN) is correctly and prominently mentioned on the invoice document. This not only demonstrates compliance with regulatory requirements but also facilitates seamless record-keeping and verification processes. Additionally, it is incumbent upon the seller to diligently verify the validity of the UIN provided by the purchaser to maintain the integrity of the transaction. Moreover, accurate and comprehensive reporting of these supplies in the GST Return is essential for upholding transparency and adherence to tax regulations.
How a GST calculator simplifies Unique Identification Number management
A GST calculator is a valuable tool that simplifies the management of Unique Identification Number (UIN) by accurately computing GST amounts and facilitating proper documentation. This tool plays a crucial role in assisting UIN holders in verifying their refund claims and also supports sellers in ensuring compliance with invoicing and reporting requirements. By accurately calculating GST amounts, verifying refund claims, and ensuring adherence to invoicing and reporting regulations, the GST calculator serves as a reliable aid for businesses navigating the complexities of GST compliance.
Conclusion
A Unique Identification Number (UIN) under GST is crucial for specific entities like diplomatic missions and international organisations to claim refunds on GST paid. Proper registration, adherence to return filing, and leveraging tools like GST calculators ensure efficient management of UINs. For businesses dealing with UIN holders, understanding these processes is essential for compliance and smooth operations. This streamlined process can also help businesses maintain positive relationships with international clients and partners. Additionally, securing business loans can provide the necessary capital to manage cash flow and expand operations effectively.
Here is how you can apply for a business loan from Bajaj Finance:
- Click on the 'APPLY' button on this page.
- Enter your 10-digit mobile number and OTP.
- Fill in the application form with your basic details, such as your full name, PAN, date of birth, and PIN code.
- Once you enter all your details, please click on ‘PROCEED’ to visit the loan selection page.
- Enter the loan amount that you need. Choose from our three business loan variants – Term, Flexi Term, and Flexi Hybrid.
- Choose the repayment tenure- you can select tenure options of
12 months to
96 months and click on ‘PROCEED’. - Complete your KYC and submit your business loan application.
Our representative will guide you on the next steps. The loan amount will be transferred to your bank account on the successful verification of your documents.
