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?
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Whether GSTIN required for opening current account
Replies (8)
GSTN not required.. You can submit declaration on letterhead regarding turnover
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.
Yes , Agree with Sh Dhirajlal ji , No bank will open Current Account without GSTN
He can submit the declaration as they are don't want take regn no. till turnover not exceed 20Lac
Yes gstin required for opening current account
@ 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.
Tell them GST is not compulsory as per your turnover. Many people still does not know GST concept.
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.
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