As per Rule 10A of the CGST Rules, taxpayers (other than TDS, TCS, Suo-moto registrations) are required to furnish bank account details within 30 days from the date of GST registration or before filing GSTR-1 / IFF, whichever is earlier.
Key Highlights:
Automatic Suspension:
If bank account details are not updated within the prescribed time, the GST registration will be automatically suspended. The suspension order can be viewed on the GST portal under View Notices and Orders.
How to Add Bank Details:
Bank account details can be added through non-core amendment on the GST portal under Amendment of Registration (Non-Core Fields).
Automatic Revocation:
Once bank details are furnished, the suspension and cancellation proceedings are automatically dropped by the system.
Manual Option (If Required):
If the proceedings are not dropped on the same day, taxpayers can manually click “Initiate Drop Proceedings” from View Notices and Orders.
Exemptions:
OIDAR and NRTP taxpayers are generally exempt.
However, OIDAR taxpayers appointing a representative in India must furnish bank details.
Important Note:
To avoid suspension of GST registration and disruption in business activities, taxpayers are advised to update bank account details promptly after registration.
