Starting September 1, 2024, GST taxpayers must provide valid bank account details to the GST Authority.
Those who do not submit this information will be unable to file their outward supply return, GSTR-1, according to an advisory from GST Network (GSTN).
Rules and Deadlines
As per Rule 10A of GST, taxpayers need to submit their valid bank account details within 30 days of registration, before filing details of outward supplies in FORM GSTR-1,
or before using the invoice submission facility (IFF)—whichever comes first. This rule will be enforced starting September 1, 2024.
Impact and Action Required
From September 1, 2024, for the tax period after August 2024, taxpayers will not be able to file GSTR-1 or IFF without valid bank account details on the GST portal.
This change is part of the amendments approved by the GST Council in July of the previous year.
The amendments aim to improve the registration process and combat fake registrations.
GSTN has advised all taxpayers who have not yet provided their bank account details to log into the GST portal and update their registration information.
Without valid bank account details, taxpayers will not be able to file GSTR-1 or IFF starting from the August 2024 return period.
