Company Verification

Vendor KYC Verification in India - Practical Checklist

Procurement teams usually need CIN, GSTIN, PAN and bank proof before onboarding. This is the order we run checks in and where most KYC packets fall short.

Vendor KYC in India sounds like a compliance checkbox till you're the one approving a Rs 50 lakh advance to a company you've never heard of. The good news: four public data sources - CIN, GSTIN, PAN, and bank account - cover most of what you need without hiring a detective. The bad news: people skip half of them and wonder why recovery fails.

Step 1: Verify CIN on MCA

Start with the CIN on the vendor's invoice or registration form. Search it on MCA master data and confirm company name, Active status, incorporation date, and director list. Our CIN verification guide walks through MCA vs Infyner lookup.

Read master data field by field if you're new to MCA screens. Status, paid-up capital, and filing history all matter before you add a vendor to your approved list.

Step 2: Verify GSTIN on GST portal

Pull the GSTIN from the invoice and search on services.gst.gov.in. Confirm Active status, legal name match, and registered address. See our GSTIN verification guide for the full walkthrough.

Cross-match: characters 3-12 of the GSTIN should equal the vendor's PAN. If they give you a different PAN on the bank form, that's a stop sign.

Step 3: PAN verification

For companies, PAN is embedded in GSTIN. For proprietors and partnerships without CIN, PAN is your primary identifier. Verify through your bank's PAN validation or NSDL - name should match the entity you're contracting with.

Why all three? CIN proves the company exists with MCA. GSTIN proves tax registration. PAN ties both together. A vendor with valid CIN but cancelled GSTIN may still be operating - but you can't claim ITC and they may not be tax-compliant.

Step 4: Bank account verification

Before first payment, confirm the bank account holder name matches the legal entity name from MCA/GSTIN - not the proprietor personally, not a director's personal account, not a similarly named shell. Penny-drop verification through your bank or payment gateway is standard now and worth the small fee.

Ongoing monitoring

KYC isn't one-and-done. Re-check MCA status and GSTIN annually for active vendors, especially high-value ones. Watch for warning signs like missing filings or strike-off proceedings. Use the full due diligence checklist for larger engagements.

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Common questions

Is CIN enough for vendor KYC?

No. Add GSTIN, PAN cross-match, and bank account verification for a complete picture.

What about vendors without GST registration?

Small vendors below GST threshold may not have GSTIN. Verify PAN and bank account; check if they're genuinely below threshold.

How long does vendor KYC take?

Basic public-data checks take 10-15 minutes per vendor. Batch tools like Infyner cut that for large onboarding lists.

Should I verify directors too?

For significant contracts, yes. Check DIN status and DIR-3 KYC on key signatories.

When should I escalate to full due diligence?

Large contract value, long payment terms, or any red flag from basic KYC - move to the full checklist.