VENDOR ONBOARDING CHECKLIST
Supplier KYC, verification and master-data setup
Vendor KYC
- ☐ Collect vendor registration / incorporation proof
- ☐ Obtain PAN and verify with Income Tax database
- ☐ Obtain GSTIN and validate on the GST portal
- ☐ Verify GST filing status / return compliance
- ☐ Collect MSME / Udyam certificate, if any
Banking & Tax
- ☐ Collect cancelled cheque / bank details
- ☐ Verify bank account via penny-drop
- ☐ Determine applicable TDS section and rate
- ☐ Obtain lower / nil TDS certificate, if provided
Agreement & Due Diligence
- ☐ Execute vendor agreement / purchase terms
- ☐ Agree credit period and payment terms
- ☐ Sign NDA / confidentiality clause, if needed
- ☐ Check references and past performance
- ☐ Screen against blacklists / conflict of interest
Master Setup
- ☐ Assign a unique vendor code
- ☐ Create the vendor master in accounting system
- ☐ Map GST and TDS defaults
- ☐ Obtain internal approval to activate the vendor
Note: Verifying vendor GST compliance protects your input tax credit from being blocked due to a defaulting supplier.