What is the full form of UIN in GST?
The UIN Full Form in GST is Unique Identification Number. It is an exclusive GST registration number provided to specific defined entities that are exempt from paying GST. Unlike any other GSTIN, a UIN doesn’t empower the holder to collect GST over his supplies. On the other hand, it helps in claiming refunds on the taxes incurred while making purchases of inward supplies.
Who receives UIN?
This includes UNO entities and programs having privileges and immunities under the 1947 UN (Privileges and Immunities) Act. These institutions work with the UNO and get similar tax advantages. Foreign embassies and consulates in India may get UINs for GST refunds.
Advantages of UIN:
On Indian purchases, UIN holders may claim GST refunds. Recovering embedded taxes may lower their costs. GSTR-11 simplifies GST compliance for UIN holders seeking refunds. UIN holders must get invoices using UINs. Both parties have openness and documentation.
UIN-based GST transactions:
UIN holders’ vendors must include the UIN on invoices. Documentation accuracy and UIN reimbursement claims are ensured. UIN holders file GSTR-11 for purchase GST refunds. The payback is normally due six months following delivery.
Registration for a UIN is similar to GST registration, but includes extra requirements. An application organization must register on GST with a valid DSC. For embassies/consulates, incorporation/registration certificates, UNO/multilateral authorization letters, and diplomatic accreditation documents are required.