Urgent GSTN Alert! GST number will be suspended if taxpayer fails to submit Bank Details:

Urgent GSTN Alert! GST number will be suspended if taxpayer fails to submit Bank Details

The Goods and Services Network (GSTN) has recently issued an advisory reminding taxpayers to submit their bank account details within the prescribed limit of time limit. Under Rule 10A, taxpayers need to furnish their bank account details on the GST portal within 30 days of receiving GST registration or before filing GSTR-1 or IFF, whichever comes earlier. Rule 10A must be followed by all taxpayers apart from those registered under TCS, TDS, or suo moto registrations. GSTN has announced that the updates related to Rule 10A will soon be implemented on the portal. To avoid any problems, taxpayers who have not yet furnished their bank details are advised to update them immediately. Failing to do the same can result in the suspension of GST registration. Here is how to furnish your bank account details:

• Visit the GST Portal and log in with your credentials.
• Navigate to Services and then Registration.
• Click on Amendment of Registration Non-Core Fields and add or update your bank account details.