Overview of Corporate Identification Number
A Corporate Identification Number (CIN) is a unique alphanumeric code assigned by the Ministry of Corporate Affairs (MCA) to identify businesses operating in India. It is a proof of registration that can be used to distinguish one company from another. Before December 2017, companies used their Corporate Identification Numbers (CINs) to gain legal recognition. With the introduction of the Goods and Services Tax (GST), the CIN is no longer mandatory and companies in India can obtain a GSTIN instead.
Purpose and Importance
The Corporate Identification Number is a feature of the Company Law and has been designed to streamline the processes associated with business registration. The purpose of a CIN is to unequivocally identify a business llc in India. It is important as it is the sole identifier to verify a business’s legal status and operations. The CIN is also used to classify and group businesses by their sector and industry.
Format and Composition
A CIN is a 21-digit alphanumeric code that is divided among four parts by two special characters (# and @). The four parts denote the following information:
- Part A: Gives an overview of the business, for example, the business structure like private limited, public limited, etc
- Part B: Refer to the registration number of the company
- Part C: Indicates the company’s date of incorporation
- Part D: Tells the divisional office code
How to Obtain a Corporate Identification Number
The MCA portal provides companies with one CIN after the registration process. It’s a simple process and here are the steps to obtain the CIN:
- You must have to register the company at the Registrar of Companies(RoC). It will need the basic information about the company.
- You must submit the application form AOA and form INC-7.
- You will then receive a Temporary Corporate Identification Number in your email before the RoC issues you a permanent CIN.
- Once the incorporation process is complete, the MCA portal will provide the company with a Corporate Identification Number. You can obtain the CIN through the MCA website.
Learn all HR terms with Superworks
From hiring to retiring, manage whole business with 1 tool
FAQs
Is the Corporate Identification Number the same as the company’s registration number?
No, the Corporate Identification Number is not the same as the company’s registration number. They are two separate alphanumeric codes.
Can a company have multiple Corporate Identification Numbers?
No, a company can only have one Corporate Identification Number (CIN).
How can I verify the authenticity of a company using its CIN?
Companies can be verified using the CIN by searching for its details on the MCA portal.
Can a company change its Corporate Identification Number?
No, a company cannot change its Corporate Identification Number. It remains linked to the company’s name and information perpetually. However, the CIN can be re-issued in the instance that the company changes its information.
WEBINAR 2024
