Hi. I want to open a sole proprietorship to sell books on Amazon (which are GST free). To sell under a firm name, I need to register as a proprietorship. However, no bank is ready to open a current account under the firm name without a GST. They say you can bring an MSME certificate as that will do. But in the MSME registration form, they ask for the bank details of the firm.
It is circular. A non-GST proprietorship can't open a current account without an MSME certificate. And without a current account under the name of the firm you can't get an MSME certificate. What is to be done first? I don't understand.
CAclubindia
