GSTN Advisory for Furnishing Bank Account details before Filing GSTR-1/IFF

The Goods and Services Tax Network (GSTN) issued an advisory for furnishing bank account details before filing GSTR-1/IFF Notification No. 38/2023 – Central Tax New Delhi, 4th August 2023.

According to Rule 10A of the Central Goods and Services Tax Rules, 2017, as notified by notification no. 31/2019 dated 28.06.2019, a taxpayer is required to furnish details of a valid bank account within 30 days of the grant of registration, or before furnishing details of outward supplies of goods or services, or both, in FORM GSTR-1 or using the Invoice Furnishing Facility (IFF), whichever is earlier.

Advisory and different communications have already been issued from time to time to inform taxpayers about providing the data of a valid bank account in the GST registration.

This rule will now be applied from September 1st, 2024. As a result, beginning in August 2024, the taxpayer would be unable to furnish GSTR-01/IFF, as applicable, unless they provide the information of a genuine bank account in their GST Portal registration details.

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 important to note that if you do not provide proper bank account information in your GST registration, you will be unable to file GSTR-1 or IFF for the August 2024 return period.