GST taxpayers without valid bank accounts to be barred from filing GSTR-1 from Septemer 1

GST taxpayers must provide bank account details to file GSTR-1; non-compliance will result in filing restrictions from September 1.

GST taxpayers who do not furnish bank account details to GST authorities will be barred from filing outward supply return GSTR-1 from September 1, GST Network (GSTN) has said in an advisory.

As per GST Rule 10A, 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. "From 1st September, 2024 this rule is being enforced. Therefore, for the tax period August-2024 onwards, the taxpayer will not be able to furnish GSTR-01/IFF as the case may be, without furnishing the details of a valid bank account in their registration details on the GST portal," GSTN said in an advisory dated August 23.

The GST Council in its meeting in July last year, had approved an amendment to Rule 10A to strengthen the registration process and to effectively deal with the menace of fake and fraudulent registrations in goods and services tax (GST).

As per the amendment, a registered taxpayer was required to furnish the details of the bank account having his name and PAN within 30 days of the grant of registration or before the filing of a statement of outwards supply in Form GSTR-1/IFF (invoice furnishing facility), whichever is earlier.

In the advisory, the GSTN asked all the taxpayers who have not yet furnished the details of valid bank accounts to add their bank account information in their registration details by visiting the GST portal.

"...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," the GSTN advisory added.