The full form of TIN is Taxpayer Identification Number. It has eleven numbers, is unique across the country, and is used to identify VAT-registered dealers. The first two digits and the following nine numbers, which vary for each state, constitute the state code.
- A fundamental goal of every government is to create a single repository of all tax-related data that can be collected at any time and anywhere in the country.
- Such a registry would aid in developing a system for tracking taxpayers and their income sources, ultimately striving to promote accountability and transparency.
- TIN registration is necessary for producers, retailers, exporters, and virtually any start-up or smaller medium firm intending to sell a good or service.
- In various contexts, TIN is also known as the CST number, VAT number, and Sales Tax Number.
- The state’s department of commercial taxes offers it.
- Firms or distributors must give TIN for all correspondence and VAT transactions.
- It is a must to sell goods within the state or to other states for companies such as producers, retailers, exporters & shopkeepers.
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