Sandeep (Practice) (145 Points)
19 July 2017Dear Sir/Madam
A person wants to take the loan for a milk dairy. The loan amount is Rs 2.5 Lakh. Bank wants his GSTIN no before 22nd July 2017. Otherwise, the loan will be rejected. It will take 7 days for GSTIN no. Please help in this regard. Whether he is required to take GSTIN.
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 19 July 2017
Requirement for GST registration depends upon the turnover of the dealer.
Still, if bank is asking, apply for it, you will get ARN soon. Communicate this ARN to the Bank. This will assure them that you have applied.
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