ICAI Releases FAQ on UDIN

The Institute of Chartered Accountants of India (ICAI) has released a set of Frequently Asked Questions (FAQs) on the Unique Document Identification Number (UDIN).

“I am glad to report that practicing Chartered Accountants have generated over 3 crore UDINs to date.” “It’s also worth noting that a number of regulators, banks, and state governments have recognized the value of the UDIN and have been actively using the UDIN Portal’s services to check the legitimacy of documents received by them,” stated ICAI President CA. Nihar N. Jambusaria.

It has been clarified that the UDIN can be confirmed using the UDIN Portal’s “Verify UDIN” feature by following the steps outlined below. Please select Verify UDIN from the drop-down menu. A popup will pop up asking for a few details for verification. Fill in the information requested, such as the Authority’s name, phone number, and email address. Certain information from the document for which the UDIN is confirmed can be viewed by authorities, regulators, banks, and others.

The regulator/third party for verification does not require registration. The UDIN regulator/third party must include the UDIN number, mobile phone, email address, and name of the authority searching UDIN when confirming the UDIN.

RBI, SEBI, CBDT, CBIC, RERA, MCA, IBA, and other regulators and stakeholders can request UDIN, since it has become required for every full-time practicing member to create UDIN as of the 379th Council Meeting on the 17th and 18th of December 2018. The ICAI has also contacted a number of regulators to inform them of the UDIN mandate and to urge them to require UDIN on all papers certified by CAs.

UDIN is now required for all Tax Audit Reports produced under the IT Act, 1961, and GST Audit Reports issued under the CGST Act, 2017, as directed by the 379th ICAI Council Meeting held on the 17th and 18th of December 2018. Even if the Tax Audit Reports and GST Audits for the period previous to April 1, 2019 are issued after that date, UDIN is required. Because GST Audit is only applicable up to Financial Year 2019-20, UDIN will be generated for any delayed GST Audit Report filing for the period up to Financial Year 2019-20 in any future Financial Year.

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