Is GST registration compulsory for an online business to open a sole proprietorship account?

Ahmed Khatib (1 Points)

26 March 2024  

I want to start an online buisness, but the payment gateway requires me to open a current account in the name of the company. I was searching the list of documents needed to open such an account, when I came across a problem - because certificates such as shop license and trade license are not applicable for an online business, It seems the only few options available for me were applying for a GST certificate. However, I'm really concerned about the cost and compliances for getting a GST registration, since I am just starting out. Do I have any other option?