BIN Certificate Verification Online 2024

Table of Contents

Introduction - BIN Certificate Verification Online

In this article, we’ll explore the online verification process for BIN Certificates. In the routine operations of our business, it’s often necessary to verify the status of a BIN Certificate to ensure the accuracy of information provided by our counterparts.

What is BIN Certificate?

BIN stands for Business Identification Number, is a certificate obtained by an entity upon VAT registration. The VAT Registration Certificate, also known as the BIN certificate (VAT 2.3), is issued by the VAT Authority in Bangladesh. It is a crucial requirement for legally conducting business operations in the country. Operating a business without VAT registration is not permissible under Bangladeshi law.

What is VAT Registration?

VAT Registration is the process of registering your business entity under the VAT & SD Act 2012. Upon registration, you’ll receive a distinctive Business Identification Number (BIN) via the VAT 2.3 Form.

Presently, the BIN Certificate is required for numerous purposes. These include initiating letters of credit, acquiring trade licenses, importing goods, obtaining or modifying Import Registration Certificates (IRC) or Export Registration Certificates (ERC), and securing fire licenses for your business premises, among various others. Therefore, mandatory VAT registration applies in several instances. If you want to know the mandatory VAT registration requirement read out the below article.

https://www.taxvatpoint.com/mandatory-vat-registration-in-bangladesh/

Why BIN Certificate Checking Online is important?

Ensuring the authenticity of BIN Certificates is vital for businesses to maintain VAT compliance. For instance, under Section 51 of the VAT & SD Act 2012 (alongside Rule 40 of the VAT & SD Rules 2016), the BIN numbers of both the purchaser and seller must be mentioned on VAT invoices (VAT 6.3) for transactions exceeding Tk. 25,000.

However, there’s a risk of fraudulent activity where individuals may employ counterfeit BIN Certificates in legal documents to deceive. Therefore, it becomes imperative for counterparties to verify the accuracy of BIN Certificates to prevent potential misuse and uphold regulatory integrity.

The Evolution of BIN Certificate Verification Online

In the past, verification of BIN Certificates typically entailed laborious manual procedures, often necessitating visits to VAT offices in person. Nonetheless, technological progress has transformed this scenario, introducing online verification systems. These systems provide unparalleled convenience and efficiency, enabling taxpayers to authenticate their returns conveniently from their homes or workplaces.

Online Verification Process:

The process of BIN Certificate Verification Online typically follows a structured sequence of steps, designed to ensure accuracy and reliability. Let’s explore each step in detail:

Step 1: Accessing the Online Platform

Persons initiate the verification process by accessing the designated online platform provided by the National Board of Revenue (NBR). This platform serves as the gateway to verifying tax returns and accessing related services.

Click on the link: https://nbr.gov.bd/

A page similar to this will open:

Step 2: Selecting correct type of BIN “13 digit BIN”

When using the online platform, users need to choose the appropriate BIN type. It’s important to note that by default, it will be “13 digit BIN,” as all BIN Certificates issued by the National Board of Revenue (NBR) currently consist of 13 digits.

Step 3: Inputting BIN Number

Following that, you’ll need to enter the Business Identification Number (BIN), which is a unique identifier allocated to every VAT-registered entity by the VAT authorities. This BIN plays a crucial role in streamlining the verification process, guaranteeing access to accurate information. Please ensure to input the number exactly as it appears on the BIN Certificate, including any hyphens (-).

Step 4: Click on “ I’m not a robot”

To bolster security and deter automated bots from gaining access to the system, users are frequently prompted to undergo an “I’m Not a Robot” verification process. This additional step fortifies authentication measures, ensuring the integrity of the verification process.

Step 5: Initiating Verification

After inputting and verifying all necessary information, individuals proceed to commence the verification process by clicking on the designated Search button. This action prompts the system to retrieve and validate the BIN status against the provided data.

Step 6: Viewing Verification Results

Upon successful verification, individuals are provided with comprehensive details regarding the status of their BIN. This may include the below:

Printing Verification Confirmation

Taxpayers have the choice to print the verification confirmation produced by the system for record-keeping or future reference. This printed document acts as tangible evidence of compliance and might be necessary for various administrative or legal matters.

Verifying VAT Return Submission Status

In Bangladesh, every business entity with a BIN Certificate must submit their VAT return within 15 days from the end of the month. This means that VAT Registered entities are obligated to file their VAT return on a monthly basis. You can also verify whether the entity is complying with this requirement by checking their VAT return submission status. Failure to submit a return could raise concerns when engaging in transactions with the entity.

Checking Status of Branch

During VAT Registration, an entity is required to list all of its business premises where operations are conducted. For instance, if a supermarket chain has 50 outlets across Bangladesh, all 50 shops must be included as branches under VAT registration. When checking the BIN of this supermarket chain, you will find details of all its branches. This facilitates verification and ensures that the branch you are conducting business with is authentic.

Conclusion - BIN Certificate Verification Online

BIN Certificate Verification Online is pivotal in ensuring compliance with VAT regulations. The broadened scope of online verification systems has notably improved the accessibility and efficiency of this process, enabling taxpayers to verify their data conveniently.

By comprehending the intricacies of the online verification process and adhering to regulatory mandates, individuals can traverse the VAT landscape with assurance and transparency.