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PAN, GST and Bank for a Firm

Four things in a specific order. Doing them out of order is how a firm ends up waiting a fortnight for something that took a day.

The order that works

1

Execute the deed

On the right stamp paper for Madhya Pradesh, signed by all partners. Everything downstream references it.

2

Apply for the firm's PAN

The firm has its own PAN, separate from the partners'. Nothing else moves without it.

3

Open the bank account

In the firm's name, with the deed and PAN. Banks also want the authorisation naming who operates it.

4

Register for GST

Where required. GST wants the PAN, the deed, address proof and a bank detail, so it comes after the account.

5

Register the firm

With the Registrar of Firms - see our page on registered versus unregistered. Optional in law, and it decides whether you can enforce your own contracts.

Written 5 September 2026. Government requirements and portal behaviour change — message us to confirm before you rely on any date or figure here.

Where firms lose a fortnight

  • Applying for GST before the bank account exists. The application asks for bank details.
  • The firm's name written differently on the deed, the PAN application and the bank form. All three must match.
  • No authorisation naming who signs. The bank and GST both want it, and an undated or unsigned one gets queried.
  • Address proof in a partner's name without an NOC where the premises are theirs.

Common questions

It causes accounting and tax problems, and GST wants the firm's account. Better to get the account open first.

Only if you cross the threshold or fall into a category requiring it. Tell us what you sell and to whom.

Usually a couple of weeks end to end, and most of that is the bank. Doing them in the right order is what keeps it to that.

Send us your case

Tell us the firm name, how many partners, and what the business does.

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