The Goods and Services Tax Network (GSTN) has commenced the issuance of notices for suo-moto cancellation of GST registration to taxpayers who have failed to furnish their Bank Account details on the GST Portal within the stipulated timelines, in accordance with Rule 10A of the CGST Rules.
As per the communication being sent to registered taxpayers, non-submission of bank account details has resulted in immediate suspension of the respective GSTINs with effect from the suspension date mentioned in the notice. The notices have been issued electronically and are accessible on the GST Portal.
Taxpayers have been advised to log in to the GST Portal and download the notice from the Services → User Services → View Notices and Orders section, using the Reference Number indicated in the email communication.
Key Highlights
- Failure to update valid bank account details within the prescribed time frame has triggered suspension of GSTIN.
- If the bank account details are not added through a non-core amendment within the stipulated period, the suspension will automatically convert into cancellation of GST registration.
- Upon furnishing the bank account details as required, the status of GSTIN will be restored to Active and the drop proceedings will be automatically revoked.
Advisory to Businesses
All registered taxpayers are advised to:
- Verify whether their bank account details are correctly updated on the GST Portal.
- Submit the required information without delay to avoid cancellation of registration and interruption in business operations.
The Government urges taxpayers to comply immediately to prevent the automatic cancellation process and ensure smooth continuation of GST-related activities.
Read GSTN’s advisory at: https://a2ztaxcorp.net/gstns-important-advisory-for-furnishing-of-bank-account-details-as-per-rule-10a/
