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Know Your Business (KYB) processes play a crucial role in today’s regulatory landscape, particularly in the context of Anti-Money Laundering (AML) regulations and corporate transparency mandates. With GST PAN Search capabilities, businesses can easily perform KYB procedures and conduct due diligence before making any associations or deals. GST Search by PAN is one of the methods through which companies can fetch the list of associated GSTIN and businesses for a provided PAN Number. In this article, we learn how tofetch GST Numbers from PAN with Cashfree Payments’ KYB Verification solution.
How GST Search by PAN happens
GST PAN Search simplifies vendor verification, helps in authenticating GST numbers, and facilitates seamless business transactions.
Goods & Service Tax Identification Number (GSTIN) is a 15-digit state-specific unique number consisting of state code, PAN, entity code, and the check digit.
Since GSTIN itself has a component of the PAN of the business holder, it becomes easier and more accurate to fetch the list of all associated GSTIN from the provider PAN.
The Need for GST PAN Search
As per GST regulations, businesses are required to verify the GSTIN of their suppliers before availing of input tax credit. GST PAN search helps in complying with these legal requirements and avoiding penalties for incorrect claims.
Business verification.
Before engaging in any transactions, it’s crucial to ensure that the company you’re dealing with is registered and compliant with tax laws. This is where the necessity of fetching GST numbers by PAN arises.
Tax compliance.
To file returns or claim input tax credits, businesses must ensure their suppliers are GST-compliant. By fetching the GST number from PAN, businesses can confirm the authenticity and compliance status of their suppliers, facilitating smoother tax filing processes and ensuring adherence to tax laws.
Streamlining Vendor Onboarding
GST PAN search simplifies the process of onboarding new vendors by ensuring the authenticity of their GST registration. It reduces the risk of dealing with unregistered or fraudulent suppliers.
Depicting Credibility
Verifying GSTIN establishes a business entity’s credibility to various stakeholders, including customers, financial institutions, business partners, and other public bodies.
Sounds interesting? Explore PAN to GST Search from Cashfree Payments
How to do GST PAN Search? Fetch GSTIN from PAN
With Cashfree Payments’ solution, businesses can now easily fetch the list of all associated GSTIN from a provided PAN.
This can be done right from the Verification Suite Dashboard or via a simple API integration on your platform.
- Go to the Verification Suite Dashboard and click on Know Your Business.
- Then, click on Fetch GSTIN from PAN.
- Enter the PAN number.
- Click on Verify.
- In the case of a valid GSTIN number, you will get the list of all GSTINs along with the status and name of the registered state.
It offers real-time fetching of GSTIN details and ensures accurate results.
Businesses can use this verification tool at the time of vendor onboarding, financing loans to businesses, or for insurance purposes.
Benefits of GST Number Search by PAN
The tool provides several benefits:
- Identifies if a fake PAN has been shared by the vendor.
- Checks for any fake or invalid GSTIN shared.
- With this tool, you can check the status of all the GSTINs linked to the provided PAN, in real-time and with accuracy.
- Check the authenticity and validity of any GSTIN.
- Prevents connections with businesses or sellers using fake or forged GSTINs.
- Simplifies the verification process.
- Prevents instances of fraud.
Know Your Business: Verification Suite from Cashfree Payments
Introducing Know Your Business Solutions from Cashfree Payments’ Verification Suite, designed to help you know your business partners better and deal with legitimate businesses only.
- CIN Verification, which cross-checks MCA data for Corporate Identification Number and retrieves the names and details of directors. It enables you to confirm if a business exists and is registered legally.
- GSTIN Verification for instant vendor verification, for quick KYC and to ensure accurate Input Tax Credit claim every time.
- GST Search by PAN for the list of all associated GSTINs from a provided PAN of the business, entity, vendor and so on.
Our KYB Solutions offers comprehensive solutions to ensure transparency and compliance in your business operations.
If you have been manually verifying business identities so far, now is the time to switch.
FAQs about PAN to GST Search
What is GST Search by PAN and why is it important for businesses?
GST Search by PAN is a process through which businesses can fetch the list of associated GSTIN and businesses for a provided PAN Number. Businesses need to ensure the authenticity of their suppliers and comply with GST regulations.
Can I use GST PAN Search for vendor verification before engaging in business transactions?
Yes, GST PAN Search allows businesses to verify the GSTIN of their vendors before engaging in any transactions. This helps in confirming the authenticity and compliance status of suppliers.
How does GST PAN Search simplify the process of onboarding new vendors?
GST PAN Search simplifies the process of onboarding new vendors by ensuring the authenticity of their GST registration. It reduces the risk of dealing with unregistered or fraudulent suppliers.
What information can I obtain through GST PAN Search?
Through GST PAN Search, you can fetch the list of all associated GSTIN along with the status and name of the registered state linked to the provided PAN number.
Is GST PAN Search real-time and accurate?
Yes, GST PAN Search offers real-time verification of GSTIN details and ensures accurate results, helping businesses make informed decisions.
How does GST PAN Search help in preventing fraud and ensuring compliance?
GST PAN Search helps in preventing fraud by identifying fake or invalid taxpayers and forging connections with businesses or sellers using fake GSTINs. It also ensures compliance with tax laws and regulations, reducing the risk of penalties for non-compliance.
