CIN number is used for tracking all the aspects of a company by the Registrar of Companies, from incorporation and should be included in all the transactions with the Registrar of Companies.
Corporate Identification Number (CIN) is a unique number which is given for identification allotted by Registrar of Companies under the Ministry of Corporate Affairs. It is a 21-digit number and a combination of alphabets and numbers (21-digit alphanumeric code). It is issued by different Registrar of Companies in different states. The CIN number is needed to find out different information about the company. It helps to find all the basic details relating to a company. It is a reference number which helps to identify the company and various details easily.
All types of companies should mention the CIN number on various documents like
CIN number is mandatory for companies, GST, Income tax and banks.
In GST or Goods and Services Tax, CIN stands for challan identification number.
Challan Identification Number has 3 parts
It is a 17-digit number. CIN is given by banks or RBI when payment is received by banks or RBI and credited to Government account. It helps to understand that money has been collected and credited to Government account. Hence, CIN number is that number through which we understand that GST payment has been received to the appropriate Government Account. It is a confirmation by which the GST payer has paid the GST to the Government account.
As challans are collected by the bank, the collecting bank will put its number of 7 digits called the BSR code and challan serial number of 5 and the date of the deposit.
The person who is paying the tax by Challan Identification number can view the following details in the Electronic Accounting System
When an assessee deposits amount in the bank for GST payment, the bank provides him with a CIN number which is challan identification number. Challan identification number is a 17-digit number as stated above. It is a 17-digit number where it gives the BSR code (Basic Statistical Returns) allotted by RBI. Then the date of payment and a serial number of the challan. CIN is stamped on the acknowledgement receipt to identify tax payment.
CIN in Income tax also refers to Challan Identification Number (CIN). All tax payments can be made through the OLTAS system (Online Tax Accounting System). Once assessee makes the payment, the CIN number is received. It is an authentication that the tax payment has been made to the respective bank account authorised by the Government.
CIN is given to all companies who have registered with Registrar of Companies (ROC).
It can be changed in the following cases
Every any type of company has to register with Registrar of Companies (ROC). Once its registers and incorporates itself, then it is allotted a CIN number. This CIN has to be mentioned on all important documents and transactions with third parties for authentication. Failure to comply with the CIN number and its requirements, it can attract a penalty of Rs 1000 per day. Also, the defaulting person or authority has to pay the penalty. The maximum ceiling on the penalty is Rs 1,00,000.
A. When a company incorporates with Registrar of companies, it is provided with a Corporate Identification Number.
All types of companies- Private Company, Public Company, Limited Liability Company, One Person Company, Nidhi Company, Government Company, Partnership Firm, Unlimited Company, Foreign Company
A. The CIN number should be printed on all important documents like letterheads, notices, official publications, invoices, annual reports etc.
It denotes transactions are taking place properly and in a legal framework. The reports of the activities can be tracked by the Ministry of Affairs.
Hence, the company is operating in a good governance mode by mentioning the CIN number and displaying the required information to the stakeholders.
A. There are 3 challans
Every taxpayer after paying the tax will get a challan which has a Challan Identification Number. It gives an assurance that tax has been deposited to the Government specified bank account.
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