What is the Full form of TIN?
The full form of TIN is Taxpayer Identification Number. It is used to distinguish VAT-registered dealers and it contains eleven digits and is specific across the nation. The state code is represented by the first two digits and the next nine digits which differ for each state.
- A single repository of all tax-related data that can be gathered at any moment and anywhere in the nation is an essential aim of any government.
- Such a registry would help to build a system for monitoring taxpayers and their revenue sources, eventually working to develop accountability and transparency.
- For producers, retailers, exporters and essentially any start-up or smaller medium business looking to sell a product or service, TIN registration required.
- Under various situations, TIN is also recognized as the CST number, VAT number, & Sales Tax Number.
- It’s provided by the state government’s commercial tax department.
- For all communications and VAT transactions, firms or distributors need to specify TIN.
- It is a must to sell goods within the state or to other states for companies such as producers, retailers, exporters & shopkeepers.