What is a Corporate Identification Number and How Can You Get It for Your Business?

What is a Corporate Identification Number and How Can You Get It for Your Business?

What is a Corporate Identification Number and How Can You Get It for Your Business?

A Corporate Identification Number, represented by using the acronym CIN, is a special alpha-numeric code given to every company that has been registered in India by using the Registrar of Companies (ROC). The CIN have to be covered by using all the organizations on all Ministry of Corporate Affairs (MCA) papers, notably audits and reports.

All One Person Companies, Private Limited Companies, Not-for-Profit Section eight Companies, Limited Companies, and Producer Companies registered in India are given a Corporate Identification Number (CIN).

Format of Corporate Identification Number (CIN) and Meaning
The 21-digit CIN has a special meaning and motive for each and every company. It is easy to translate and may be used for finding out basic information about a corporation. For instance, L01631KA2010PTC096843 is a special CIN issued by means of the ROC.

Whether a agency is “Listed” or “Unlisted” on the Indian inventory market is indicated through the primary individual of the CIN. The following group of five numerical digits classifies a employer’s monetary pastime or the enterprise to which it belongs. The Indian country in which the enterprise is registered is indicated with the aid of the seventh and 8th letters. The enterprise’s incorporation year is represented with the aid of the digits from ninth to twelfth positions. The ownership form of the company is denoted with the aid of the subsequent 3 characters after the yr of establishment. The closing six digits specify the registration variety for the company issued by way of ROC.

How to Get a CIN for Your Company
Upon incorporation and approval by way of the ROC – Registrar of Companies, the Corporate Identity Number (CIN) is robotically assigned. Consequently, there may be no need to request a CIN variety.

A government employer known as the Registrar of Companies (ROC) is in charge of incorporating or registering organizations. It is located in all of the exclusive Indian States and Union Territories.

The Registrar of Companies’ number one purpose is to ensure that each one Indian groups adhere to the regulation. Other ROC targets are as follows:

Name adjustments for businesses
Countermeasures towards default groups
Converting non-public companies to public
Where do You Need to Mention CIN
According to section 12(3)(c) of the Companies Act 2013, all organizations with an Indian cope with are required to include its Corporate Identification Number on professional files. These consist of invoices, bills, notices, annual reports, audits, receipts, memos, letterheads, enterprise’s legit publications, and each e-form submission at the MCA website.

Is there Any Penalty for Not Mentioning CIN
If the aforementioned clause of the Companies Act isn’t met, the defaulting organization and every of its officers are situation to a penalty of INR 1,000 according to day for so long as the default lasts. The maximum great for this default, but, is most effective INR 1,00,000.

Where can You Find Your Company’s Corporate Identity Number
CIN of a organization may be determined the use of the MCA 21 portal’s search function relying on the subsequent criterion:

Registration number for ROC
Existing business name
Old employer name (the person should provide the vintage name if the organisation’s name modifications). The machine will then display an appropriate present day name of the enterprise).
CIN inactive (In case there’s a trade inside the CIN, the consumer is needed to go into the previous inactive CIN).
Is a CIN Assigned to LLPs
The Registrar of Companies assigns a CIN to a registered business and an LLPIN (LLP Identification Number) to a restricted liability partnership (LLP). Therefore, LLPs aren’t eligible for a CIN; only companies registered beneath the 2013 Companies Act are eligible.

Are GSTIN and CIN the Same Thing
The Registrar of Companies assigns every registered employer a completely unique identification variety (CIN) at the time the enterprise registration certificates is issued. The figuring out number given to corporations and organizations which are GST-registered, on the other hand, is known as a GSTIN. Consequently, both are particular and serve awesome purposes.

Under What Circumstances can a Corporate Identity Number be Changed
Every registered organization is given a CIN for identity purposes, and it is able to be modified in a few situations, inclusive of:

Changes to a business enterprise’s list status
Any alteration to the location or state wherein the commercial enterprise’ registered workplace is located
Any modification to the arena or enterprise to which a enterprise belongs
Reach out to the Experts at Online Legal India
Getting a Corporate Identification Number (CIN) can be a completely simple and inexpensive process. Experience the best legal advisors available with Online Legal India’s knowledge in organisation incorporation.

Biswajit Barman
Author: Biswajit Barman

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