TIN/ VAT/ CST Number:
The TIN/ VAT/ CST number is the taxpayer identification number. These numbers are the unique number as per the particular state. The commercial tax department gives the TIN/ VAT/ CST number by the particular state. This number used for the transaction.
TIN (Tax Information Network) is made by the Income Tax Department of India. The TIN number is used in modernizing the current system for collection, processing, monitoring, and accounting of direct taxes using information technology.
The TIN number used as a repository of Tax-related information across India. It is a unique registration number. It has an 11 digit number that is used for identification. All the manufacturers, traders, exporters, and dealers must have the TIN number.
Tax Identification Number
The TIN number is used for both sending and receiving companies. You can apply online for the TIN number and also visit the government facilitation centers. For using the TIN number, you have ID proof, Address Proof, PAN card number, 1st sale payment copies with a bank statement. After corrections of all these proofs, you can get your unique TIN number.
The VAT number is known as the value-added tax. The Value Added Tax (VAT) is a multi-stage tax. It is used for any business like trading, manufacturing of any products. It is necessary for any business. VAT registration is compulsory if your annual turnover is more than five lakhs.
In many states have this limitation is for more than ten lacks. If you applied for the VAT number after complete all verification processes, you provide the TIN number and then VAT registration certificate issued.
The CST (Central Sales Tax) is used on indirect tax only on goods sold in one state to another state. This selling and buying process takes into account that the buyer and the seller need to be in two different states. Now the current central tax rate in India is 3 percent.
The registration process of the CST is the same as the VAT registration. TIN number id used to identify the dealer under VAT. The TIN number is a single number that is allotted to the dealers for the registration of all three taxes of VAT, CST, and service tax.
The registration process of the CST is the same as the VAT registration. TIN number id used to identify the dealer under VAT. The TIN number is a single number that is allotted to the dealers for the registration of all three taxes of VAT, CST, and service tax.
