Can I Open A Current Account Without GST?

How do I open a current account with GST?

Opening a Current Account is very simple….Any of these documents will be enough to establish proof of the existence of the business:Registration and Licenses issued by the Municipal authorities.

GST registration certificate with the number.A registration certificate issued by Professional Tax authorities.More items….

What is the procedure to open current account in SBI?

SBI Current Account Opening ProcedureVisit the Bank’s website or the Bank’s online current account portal.Select the ‘Open current account’ option.Fill in the personal details in the current account application form.Download the application form and submit the printed copy in the Bank on your next visit.

Which bank has lowest minimum balance for current account?

Current Account Monthly Average Balance and Withdrawal Limit 2020BankMinimum Average BalanceICICI Bank Smart Business AccountRs. 25,000HDFC Bank Regular Current AccountRs.10,000 per quarterBank of Baroda Baroda Small Business Current AccountQuarterly Average Balance Rs. 2,500SBI Regular Current AccountRs. 10,0002 more rows

Which is best bank for current account?

Best Bank for Current Account in India 2020#1. ICICI Bank Current Account (For Best Technology)#2. HDFC Bank Current Account (For Best Products)#3. IndusInd Bank Current Account (Lower AMB yet Great Features)#4. Axis Bank Current Account.#5. Citi Bank Current Account (For Global Business)#6. State Bank of India Current Account (Widespread Reach)#7. … #8.More items…•

What are the types of current account?

Let’s take a look at the different types of current accounts there are, which are based on the different requirements you might have.Premium Current Account.Standard Current Account:Foreign Currency Account:Packaged Current Account:Single Column Cash Book.

Can I open current account with MSME registration?

Opening an account with nationalised bank will not be a problem. However private banks need more than 2 documents as proof of registration. Udyog Aadhar will only be taken into consideration after 60 days of registration.

Who are applicable for current account?

Current account eligibility or who can open current accountResident individual.Hindu undivided family.Sole proprietorship firm.Partnership firms.Limited liability partnership firm.Private and public limited company.

Is current account mandatory for proprietorship?

A proprietorship is an extension of its owner, the proprietor. … For this reason, only smaller businesses should continue under sole proprietorship. Opening a Bank Account. Opening a current account is a mandatory aspect of any business.

What is required to open current account?

To open a current account, KYC documents like identity proof and address proof are required along with business proof. … Documents valid for Address Proof are Passport, Aadhaar, Voter’s ID Card, Ration Card, Driving License, Lease/Rent Agreement, Property Documents, Utility Bills.

Can a normal person open current account?

A Current account can be opened in most of the commercial banks. A current account being a zero-account, is generally associated with huge transactions on a regular basis.

Can I open zero balance current account?

A zero balance current account can be opened in any commercial or non-commercial bank. One can choose from the list of top banks providing zero balance current accounts. The user needs to submit all the KYC acceptable documents along with the current account opening form at the nearest bank branch.

Is GST mandatory to open current account?

Bank account details can be added later vide amendment of non-core field. Therefore, Current Account is not compulsory for GST Registration. And, you can use either saving account or Current account to register for GST in India.

Which government bank is best for current account?

Best Banks for Current AccountBanksMaximum Cash Deposit AllowedHDFC BankUp to ₹2 lakhs per month (for regular current account)ICICI BankUp to ₹1.8 crores per monthAxis BankUp to ₹2 lakhs per month (for regular current account)Bank of BarodaUp to ₹1 lakhs per month4 more rows

How long does it take to open a current account?

How long does it take to open a bank account? It depends. If you’re opening an account online and you’ve gathered all your materials beforehand, you may be able to complete an application within 10 to 15 minutes (or less). Processing your application and issuing your account number could take a day or two.