All Registered Taxpayers are
required under the provisions of CGST Act, 2017 and the corresponding Rules
framed thereunder to furnish details of their bank account/s within 30 days of
the grant of registration or before the due date of filing GSTR-1/IFF,
whichever is earlier.
Taxpayers are therefore advised to promptly furnish their bank account details,
who have not provided it so far if 30 Days period is shortly going to expire to
avoid disruption in business activities and the subsequent suspension of GSTIN.
A new functionality is being developed with the following features and will be
deployed in near future:-
1.Failure to furnish the bank account in the stipulated time: It would result
into following:
a) Taxpayer Registration would get suspended after 30 days and intimation in
FORM REG-31 will be issued to the Taxpayer.
b) Get the Taxpayer debarred from filing any further GSTR-1/IFF.
2.Revocation of Suspension: If the taxpayer updates their bank account details
in response to the intimation in FORM REG-31, the suspension will be
automatically revoked.