Budget 2023: PAN card to be single common identifier for entities

The legalisation of the permanent account number (PAN) as a single business identifier was announced in the Union Budget for 2023–2024.

[{"selector":"#anim-8b4ffbc7-a40f-47cd-b7b2-15d188025953","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f2fc9112-5ee5-4ae4-a003-070e71b3c799","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2a0cc7e8-e347-489f-8ae2-adac8f6cdd07","keyframes":{"transform":["translate3d(107.98817%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

An enabling clause or provision in the Finance Act of 2023 will give PAN use as an entity's primary identification legal support.

[{"selector":"#anim-73ad592c-abc6-4033-8951-5c80963ab179","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5e2ce571-2fa3-476a-8686-ff415c932170","keyframes":{"transform":["translate3d(107.98817%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-438cc730-05cc-460b-95fe-b4d604d6a5da","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}]

Several identifiers are currently in use at both the state and centre levels.

[{"selector":"#anim-7400f02f-3631-4efb-8d21-9f9a78295dc7","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-640dbe73-f987-4ca5-9b05-2d0b40aeee52","keyframes":{"transform":["translate3d(107.98817%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-353f5c2b-5d3b-4c24-b2ba-7ac6b49e8a39","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}]

These include GSTIN, TDA, TIN, EPFO, and CIN.

[{"selector":"#anim-fd5f860d-1498-45af-80d4-c1efa3df5dc9","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a1f98b22-226b-4ca4-b78e-87bb808e263d","keyframes":{"transform":["translate3d(107.98817%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-92b3cb95-c736-44f9-a5e5-b1670a48151b","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}]

Under the new move, PAN is likely to become the principal identity of any entity.

[{"selector":"#anim-2d61a071-9ad0-42f5-a860-fa13e97098ed","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-58b1918d-2170-4028-b033-ba2da5d399ec","keyframes":{"transform":["translate3d(107.98817%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-56f8f6c6-b6a1-402e-a851-eb1f8b2a28d4","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}]