Current account is compulsory for gst reg.

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This query is : Resolved

vipul kumar (Querist)

04 May 2018 Is current account is mandatory for GST reg.and can i use my saving account for business transactions or not(i have a business of car accessories and two,three and four Wheeler parts)and i want to sell my product over e-commerce sites as well as over my shop.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

04 May 2018 Savings account can't be used for business transactions current account is required.

vipul kumar

vipul kumar (Querist)

04 May 2018 Sir But i red somewhere current account is nt compulsory for GST reg.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

04 May 2018 If you transact business through savings account the account will be freezed.

vipul kumar

vipul kumar (Querist)

04 May 2018 Sir can i open current account for business transactions after GST reg. And during GST reg can i upload my saving account documents or firstly open current account after then apply for GST reg. What to do sir first

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)

05 May 2018 For New GST registration you can give individual SB a/c details, once you get GST registration you can apply Current account in trade name . If you want open Current Account in Your Individual Name not under Trade Name you can still open without in Government registrations.

vipul kumar

vipul kumar (Querist)

05 May 2018 Sir after getting GSTIN no.
With saving a/c details.afterthen I have to upload again my current a/c details in gst.gov.in or not.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)

05 May 2018 No need to update current account detail in GST portal , There is no compulsory to upload current account details, for obtain current account under Trade Name you should have one Government registrations, In order to get registrations you can upload your individuals bank account details for only for proprietary concern.

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