Tuesday 3 November 2015

What is TIN number and How to apply for Tin Number?

TIN number, you may hear this first time when you newly into business or otherwise you can know it from someone who already doing business within India. By reading this post, you can know that what TIN Number is? Who needs it and How to apply for TIN?
What is TIN number?
TIN stands for Tax-Payer Identification Number, is unique number allotted by Commercial tax department of respective State. It’s an eleven digit number to be mentioned in all VAT transactions and correspondence.
TIN number is used to identify dealers registered under VAT. First two digits of TIN indicate the issued state code. However, Other 9 digit of TIN creation may differs by state governments.
TIN is applied for both sales done within a state or between two or more states. Tin is also being used to identify dealers in the same way like PAN, to identification of assesses under income tax act.
Who Needs TIN number?
Tin number registration is must for Manufacture/Traders /Exporters/Dealers. It comes to new registration under VAT or Central sales tax will be allotted new TIN as registration number. However, all state commercial tax department of India has stipulation to provide new TIN to existing Manufacture/Traders /Exporters/Dealers to replace their old registration / CST number.
So, there is no difference in VAT/CST/TIN because these days only one number is needed for all type of sale you made. TIN number is called VAT number when it used for intra state sales. The same TIN number is being consider as CST number when it requires.
Documents required to Apply TIN number
ID Proof / Address proof / PAN card of proprietor with 4 to 6 number of photographs
Address proof of Business premises;
1st Sale / Purchase Invoice, copy of LR/GR & payment/collection proof with bank statement
Surety/Security/Reference.
Please check the applicability of each state
How to apply for TIN number?
Gone are the days standing in long queues to submit an application to Government Department. E Government as swept all over India. This can be done by online.

0 comments:

Post a Comment