Current Account

Is current account mandatory for gst

No, a current account is not mandatory for obtaining a GST registration. You can initially use a savings account for the application process. However, according to Rule 10A of the CGST Rules, it is compulsory to furnish valid bank account details on the GST portal within 30 days of the grant of registration or before filing your first GSTR-1, whichever is earlier. While a savings account may be accepted for sole proprietorships, opening a current account in the business name is highly recommended for smoother compliance and higher transaction limits.

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