Summary of the GST Advisory on furnishing bank account details before filling GSTR-1/IFF.
The Government has issued GST Advisory on furnishing bank account details before filling GSTR-1/IFF. From 1st September,2024 onwards for the tax period August-2024 onwards, Taxpayer will not be able to file GSTR-1 or IFF without submitting valid bank account details on the GST Portal.This advisory serves as critical reminder to all taxpayers to provide valid bank account details on the GST portal by prescribed time limit to furnish FORM GSTR-1/IFF.
As per Rule 10A of CGST Rules,2017 notified through Notification No.31/2019 dated 28-06-2019, taxpayer must provide valid bank account details with in 30 days from date of grant of registration or before furnishing the outward details in FORM GSTR-1 or using IFF , whichever is earlier.
To provide Valid Bank account details in GST Registration, advisory and communications have been regularly issued to inform the taxpayers.
- With effect from 01-09-2024, for the August-2024 tax periods and onwards,the taxpayer will not be able to submit their GSTR-1 or IFF, unless they have provided valid bank account details in their registration on the GST Portal.
- Hence, all the taxpayers who have not yet provided valid bank account details are requested to do so as soon as possible. To add your bank account details by following this navigation on the GST Portal: Servicies>>>Registration>>>Amendment of Registration Non-core fields tabs.
- It is informed that in absence of valid bank account details in GST registration, You will not be able to file your GSTR-1 Form or use the IFF for the August-2024 return period and onwards.
The Original GST Advisory issued by the government has follow:
- As per Rule 10A of Central Goods and Services Tax Rules, 2017 notified vide notification no. 31/2019 dated 28.06.2019, a taxpayer is required to furnish details of a valid Bank Account within a period of 30 days from the date of grant of registration, or before furnishing the details of outward supplies of goods or services or both in FORM GSTR-1or using Invoice Furnishing Facility (IFF), whichever is earlier.
- Advisory and various communications have already been issued time to time to inform the taxpayers regarding furnishing the details of a valid Bank Account detail in the GST Registration.
- Now, from 01st September, 2024 this rule is being enforced. Therefore, for the Tax period August-2024 onwards, the taxpayer will not be able furnish GSTR-01/IFF as the case may be, without furnishing the details of a valid Bank Account in their registration details on GST Portal.
- Therefore, all the taxpayers who have not yet furnished the details of a valid Bank Account details are hereby requested to add their bank account information in their registration details by visiting Services > Registration > Amendment of Registration Non – Core Fields tabs on GST Portal.
- It is informed that in absence of a valid bank account details in GST registration, you will not be able to file GSTR-1 or IFF as the case may, be from August-2024 return period.
GST Advisory on furnishing bank account details
