{"id":14860,"date":"2023-08-29T03:33:20","date_gmt":"2023-08-29T03:33:20","guid":{"rendered":"https:\/\/tata-blog.osian.dev\/blog\/?p=14860"},"modified":"2024-11-15T15:25:11","modified_gmt":"2024-11-15T09:55:11","slug":"why-you-need-to-get-your-business-gst-verified","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/loan-for-business\/why-you-need-to-get-your-business-gst-verified\/","title":{"rendered":"Why You Need to Get Your Business GST Verified?"},"content":{"rendered":"\n<p>Wondering if you need to verify your company\u2019s Goods and Services Tax (GST) number? Well, the answer is yes, as this verification stands as your business GST proof.Today, GST has become crucial as it helps enterprises keep things simpler by filing unified returns instead of numerous ones. Moreover, it results in easier logistics, holds fewer tax returns and compliances, etc.<\/p>\n\n\n\n<p>However, verifying your businesses GST number, also called the GSTIN, is essential to avail of such benefits. Once you register and receive the GSTIN, the verification will indicate your business as authentic.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What Is This GSTIN and Why Is It Important to Verify It?<\/strong><\/h2>\n\n\n\n<p>The GSTIN (GST Identification Number) is a 15-digit unique number allotted based on your business\u2019s PAN. Since GST has become a staple regulation for taxpayers today, it\u2019s significance is undeniable. Besides, this GSTIN helps customers, other companies, and financial institutions check your credibility.<\/p>\n\n\n\n<p>Business GST verification is crucial for all GST-registered organizations, whether small or large. Verified GSTINs create a two-way street, where you can prove your authenticity and also cross-check if the businesses you deal with are credible as well or not.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Significance in Availing Funds<\/strong><\/h2>\n\n\n\n<p>Since GSTIN verification proves a company\u2019s authenticity, it helps pave the way for business loan eligibility as well. While some lenders might check a company\u2019s GSTIN to see if it\u2019s credible or not, this is primarily important for smaller or medium enterprises to avail of schemes such as GST business financing.&nbsp; With a verified GSTIN, they can easily access such loans.<\/p>\n\n\n\n<p style=\"color:red\"><strong>Additional Read:<\/strong>&nbsp; <a href=\"https:\/\/tata-blog.osian.dev\/blog\/business-loan\/what-are-the-advantages-of-gst-registration-for-small-businesses-and-start-ups\/\">Advantages of GST Registration for Small Businesses and Start-Ups<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Cross-Checking Business Details on the GST Portal<\/strong><\/h2>\n\n\n\n<p>The GST portal houses all the details of any registered businesses, whether a dealer or supplier. Hence, it must have your company\u2019s correct information for any lender, consumer, or other business to check. Verifying your GSTIN will help ensure this, as you can see if your company details have been accurately updated or not.<\/p>\n\n\n\n<p>Hence, whether you\u2019re applying for a <a href=\"https:\/\/tata-blog.osian.dev\/business-loan.html\">business loan<\/a><strong> <\/strong>or are about to work with other suppliers or dealers, they can assure your credibility by checking out your up-to-date details on the portal.<\/p>\n\n\n\n<p style=\"color:red\"><strong>Additional Read:<\/strong>&nbsp; <a href=\"https:\/\/tata-blog.osian.dev\/blog\/business-loan\/what-are-the-documents-required-for-gst-registration-for-small-businesses\/\">Documents Required for GST Registration for Small Businesses<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Claiming Input Tax Credits<\/strong><\/h2>\n\n\n\n<p>Input tax refers to the taxes levied when you purchase services or goods. When reduced from your outward supplies\u2019 (output) payable taxes, it results in the input tax credit (ICT). While this is quite effective, your business can miss out on claiming such ICT because of fake GST numbers, as many often manipulate GSTINs. Thus, verifying your GSTIN, you can remain legitimate and be eligible for claiming ICTs as well.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Parting Thoughts<\/h3>\n\n\n\n<p>Clearly, GST verification is essential for smooth company operations. Moreover, if you\u2019re already GST-verified and require financing, Tata Capital is here to help! We offer affordable <a href=\"https:\/\/tata-blog.osian.dev\/business-loan\/interest-rates-and-charges.html\">business loan interest rates<\/a><strong>, <\/strong>quick disbursal, minimal documentation, and structured and flexible EMI plans.<\/p>\n\n\n\n<p>Moreover, our unique business finance features include an <a href=\"https:\/\/tata-blog.osian.dev\/business-loan\/msme-loan-sme-loan.html\">online EMI calculator<\/a>, extended loan tenures, collateral-free funds, etc. Want to know more? Visit our nearest branch, give us a call, or simply log on to our website today.<\/p>\n\n\n\n<div class=\"wp-block-group alignwide\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-vivid-cyan-blue-background-color has-background wp-element-button\" href=\"https:\/\/tata-blog.osian.dev\/online\/loans\/business-loans\/home#!\">Apply Now<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wondering if you need to verify your company\u2019s Goods and Services Tax (GST) number? <\/p>\n<p><a href=\"https:\/\/tata-blog.osian.dev\/blog\/business-loan\/why-you-need-to-get-your-business-gst-verified\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":14861,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[26],"tags":[],"class_list":["post-14860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan-for-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why You Need to Get Your Business GST Verified - Tata Capital Blog<\/title>\n<meta name=\"description\" content=\"Business GST Verification - Here are the Top reasons to get your business GST certified. A step-by-step guide for obtaining your GST for business. Know more!\" \/>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why You Need to Get Your Business GST Verified - Tata Capital Blog\" \/>\n<meta property=\"og:description\" content=\"Business GST Verification - Here are the Top reasons to get your business GST certified. A step-by-step guide for obtaining your GST for business. 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