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Whether GSTIN required for opening current account

Accounts 6412 views 8 replies

Kartik

Student

99 Points Joined June 2014

if a sole proprietor wants to open a current account then whether GSTIN number is required for it?
bank is not opening current account and asking for GSTIN number but the annual turnover is below 20 lakh so don't want to take registration undet GST
any solution?

Replies (8)

Guest

GSTN not required.. You can submit declaration on letterhead regarding turnover

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

208868 Points Joined July 2016

Any one registration certificate is mandatory for opening current account along with PAN, address proof etc. ......

Be it GSTIN, ot Shop & Establishment license, or EIN number, or FSSAI registration etc. etc.

Pankaj Rawat

GST Practitioner

55062 Points Joined June 2017

Yes , Agree with Sh Dhirajlal ji , No bank will open Current Account without GSTN

Guest

He can submit the declaration as they are don't want take regn no. till turnover not exceed 20Lac

Vinod Babu

24196 Points Joined May 2018

Yes gstin required for opening current account

Ajit

Tax Consultant

32 Points Joined July 2010

@ Vinod Babu

My turnover is just 20-25 lakhs. its below limit rs. 40 lakhs so i am not liable for GST registration but bank is asking for GST NO.

jayendra Gaonkar

Asst. Manager

216 Points Joined December 2014

Tell them GST is not compulsory as per your turnover. Many people still does not know GST concept.

Ritik Chopra

student

8138 Points Joined October 2017

Since the person if not liable to register under GST, the same is not required to open the current account. You may give a declaration in writing and discuss with bank's manager.