Attention, GST taxpayers! From Sep 1, you will not be allowed to file GSTR-1 unless you do this
There's an important update for Goods and Services Tax (GST) assessees. From September 1, 2024, GST authorities will only allow the filing of GSTR-1 returns or the submission of data using the Invoice Furnishing Facility (IFF) of the registered taxpayer who has furnished their bank account details.
According to an advisory dated August 23 shared by the GST Network on microblogging site X (formerly Twitter), the GST taxpayer "will not be able to furnish GSTR-01/IFF", as the case may be, "without furnishing the details of a valid bank account in their registration details" on the GST portal.
GSTN is a government-owned entity that provides the technological infrastructure for the GST system in the country.
The organisation has time and again informed the taxpayers about the mandatory requirement of furnishing their details while undertaking GST registrations.
As per Rule 10A of the GST law, a taxpayer is required to furnish the details of a valid bank account within 30 days from either of the following two, whichever is earlier:
