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Bank loan query

Kollipara Sundaraiah (B.com) (2984 Points)

28 February 2020

iam maintained small kirana goods stores.my turnover below 40 lacs limit no gst registered.i consulting bank manager for the purpose of bank loan.if bank manager required gst registered certificate compulsory .
how to sloved my problem

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4 Replies

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 28 February 2020

How to sloved my problem...?

- No more other options...
- You can try to give udyog Aadhar certificate...
- Apply GST registration...

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Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 28 February 2020

CA professionals should be there in banks and Income tax dept .Indian financial system will not improve otherwise..

How can they ask GST certificate in your case??

Even for opening current account they need GST registration.But for GST registration of a business one must give bank account.

Unless CA professionals step into Indian revenue and financial system at various level India will continue to developing country..

SOHAN LAL (Manger Accounts & Finance) (363 Points)
Replied 28 February 2020

GST registration not required in your case.

you can submit below documents for proofing your business turnover.

1. Last year Income Tax Return
2. Bank statement Which you made payment your supplier
3.Sale certificate attestation from CA etc.