What is BIN?
A BIN is the Business Identification Number issued by the NBR when a business registers for VAT. It identifies the taxpayer on every VAT document and is the number both sides of a transaction quote on a tax invoice.
A BIN is the Business Identification Number issued by the NBR when a business registers for VAT. It identifies the taxpayer on every VAT document and is the number both sides of a transaction quote on a tax invoice.
In Bangladesh
Business buyers will not accept an invoice without your BIN on it, because they cannot claim input tax rebate against a document that does not identify the supplier. Collecting a customer BIN at the point the account is opened saves a month of chasing later.
An example
A distributor in Islampur invoices a corporate buyer. Without the buyer's BIN on the face of the invoice the buyer's accounts department returns it, because their own auditor will disallow the rebate on a document that does not identify both parties.
In SORS ERP
BIN is a field on both the customer and supplier records in SORS ERP, so it prints on the Mushak 6.3 tax invoice and carries into the 6.1 purchase register without anyone retyping it.
Also called
- In Bangla
- বিআইএন
- Also
- Business Identification Number
- Also
- VAT registration number
Questions
Answered plainly, including where the answer is no.
Is a BIN the same as a trade licence number?
No. A trade licence is issued by the local authority and permits you to trade; a BIN is issued by the NBR when you register for VAT and identifies you on VAT documents. A business can hold a trade licence without being VAT registered.
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