Advisory on Furnishing Bank Account Details Under Rule 10A – What Every Taxpayer Must Know
The GST Network (GSTN) has issued an important advisory regarding the mandatory furnishing of bank account details as per Rule 10A of the CGST Rules, 2017. This update is particularly crucial for newly registered taxpayers and for those who have not yet added their bank account information on the GST Portal.
In this blog, we break down the key points of the advisory and explain what steps you need to take to stay compliant and avoid penalties or suspension of your GST registration.
What Does Rule 10A Require?
Under Rule 10A, every taxpayer—except TCS, TDS registrants, and those registered suo-moto by authorities—must furnish their bank account details within 30 days of obtaining GST registration or before filing their first outward supply return (GSTR-1 or IFF), whichever is earlier.
This rule ensures that the GST authorities have a verified bank account linked to every active GSTIN, improving transparency, compliance, and faster refund processing.
Why This Advisory Now?
The GST Portal will soon update and enforce the Rule 10A requirements more strictly. Once implemented:
- Taxpayers without updated bank details may face suspension of their GST registration.
- Suspension can lead to:
- Inability to file GSTR-1 and GSTR-3B
- Disruption of e-way bill generation
- Impact on compliance ratings
- Interruption in business operations
Hence, taxpayers are advised to act immediately and ensure their bank details are updated.
Who Needs to Take Action?
You must update bank details if:
- You received GST registration but did not add bank details yet.
- Your bank information is incomplete or pending verification.
- You recently changed your bank account and have not updated it on the portal.
Those registered under TCS, TDS, or suo-moto registrations are exempt from this requirement.
How to Add or Update Bank Account Details on the GST Portal
You can easily furnish your bank details through a Non-Core Amendment, which does not require departmental approval.
Follow these steps:
- Log in to the GST Portal.
- Navigate to:
Services → Registration → Amendment of Registration (Non-Core Fields) - Go to the Bank Accounts section.
- Add your bank details and upload the required documents (e.g., bank statement, canceled cheque).
- Submit the amendment with EVC/DSC.
The details will be updated instantly in most cases.
Consequences of Not Updating Your Bank Account Details
Failure to furnish bank details in time may result in:
- Automatic suspension of GST registration
- Blocking of e-way bill generation
- Inability to file returns
- Business disruptions and compliance challenges
Updating the bank details now can help you avoid these issues.
Final Takeaway
This advisory underlines the importance of complying with Rule 10A. If you have not yet provided your bank account details on the GST Portal, do so at the earliest. With the upcoming portal enhancements, timely action will help you maintain an active and compliant GST registration without interruptions.
For assistance with GST registration amendments or compliance, feel free to reach out.