GST Return Filing Not Possible Without a Valid Bank Account

"GST Return Filing Not Possible Without a Valid Bank Account"

UV INDIA NEWS: GST taxpayers who have not provided their bank account details to the GST authority will be unable to file their returns via GSTR-1 from September 1. This information was provided in an advisory issued by the GST Network.

According to Rule 10A of the GST regulations, taxpayers must submit their bank account details within 30 days of obtaining registration or before filing their first GST return. This requirement also applies when availing of the facility to upload an invoice. In its advisory dated August 23, 2024, the GST Network mentioned that from September 1, 2024, Rule 10A will be strictly enforced. Therefore, taxpayers without a valid bank account can neither file GST returns for August 2024 nor use the invoice upload facility.

The GST Network has advised taxpayers who have not yet provided their bank account details on the GST portal to update their registration information promptly. In its meeting held last July, the GST Council approved amendments to strengthen the registration process and address issues related to fake registrations under Rule 10A. The amendments also made providing bank account details linked to the taxpayer's name and PAN mandatory.

Taxpayers are encouraged to comply with this requirement to avoid difficulties in filing their GST returns from the upcoming dates.