|
|
|
You can get e-magazine links on WhatsApp. Click here
|
|
|
|
|
|
GSTN issues advisory; ignoring it may result in GST regn suspension
|
|
Friday, 28 November, 2025, 08 : 00 AM [IST]
|
|
Ashwani Maindola, New Delhi
|
The GST Network has issued an important advisory, stating that changes related to the GST portal will soon be implemented. If these rules are ignored, businesses may even have their GST registration suspended.
GSTN has issued an advisory and clarified that the changes related to Rule 10A will be implemented soon on the GST portal.
This change could impact thousands of businesses across the country, as registered taxpayers who have not yet updated their bank accounts could face immediate suspension of their GST registration.
This decision is significant because, upon suspension of registration, both invoicing and tax filing will be halted, potentially impacting business.
As per Rule 10A, taxpayers (except those registered under TCS, TDS, or suo-moto registrations) must furnish their bank account details within 30 days of grant of registration or before filing details of outward supplies in GSTR-1 or IFF, whichever is earlier.
"The changes with respect to Rule 10A will be implemented on the GST portal soon. Therefore, the taxpayers who have not yet furnished the bank account details till date are advised to update the same at the earliest to avoid suspension of their GST Registration and disruption of business activities," reads the advisory.
Shankar Thakkar, national secretary, CAIT, said that these changes will be automatically implemented once activated in the system, and the portal will not allow any taxpayer whose account information has not been updated to proceed. This will put pressure on businesses that have previously avoided this process.
Meanwhile, failure to update bank details will prevent proper invoice generation and filing of outward supply data, potentially disrupting business activity.
"Taxpayers can update their bank account information through a non-core amendment on the GST portal. Therefore, all taxpayers should complete this update immediately to avoid any difficulties or business disruptions when the new system is implemented," added Thakkar.
|
|
|
|
|
|
|
|
|
|