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Most of the Public Key Infrastructure (PKI) based security and privacy solutions for VANETs use pseudonyms where each vehicle gets multiple identities to improve privacy significantly. A vehicle needs 720 pseudonyms in 24 hours and 262,800 pseudonyms in 1 year, according to the US-based SAE J2735 standard. Trusted Authority (TA) revokes all the pseudonyms assigned to a malicious vehicle and stores them in the CRL. However, the overhead of maintaining such a large volume of identities is overwhelming for traditional CRL-based solutions. In turn, it incurs a higher delay to update and broadcast the CRL periodically. We have designed a novel approach by leveraging the Cuckoo Filter to reduce the storage, computation, and communication overhead associated with the CRL in VANET. The cuckoo filter contains only one entry for all pseudonyms of a revoked vehicle, thereby minimizing the overhead associated with CRL verification. Our scheme also provides an efficient lookup operation for vehicles and Road Side Units (RSUs) in a Vehicle to Infrastructure (V2I) scenario.