{"id":9221,"date":"2023-08-06T10:04:15","date_gmt":"2023-08-06T09:04:15","guid":{"rendered":"https:\/\/www.klickongstworld.com\/blog\/?p=9221"},"modified":"2023-08-06T10:10:10","modified_gmt":"2023-08-06T09:10:10","slug":"new-registered-persons-required-to-furnish-details-of-bank-account-within-a-period-of-thirty-days","status":"publish","type":"post","link":"https:\/\/www.klickongstworld.com\/blog\/new-registered-persons-required-to-furnish-details-of-bank-account-within-a-period-of-thirty-days\/","title":{"rendered":"New Registered persons required to furnish details of bank account within a period of thirty days"},"content":{"rendered":"<p align=\"justify\">50th  Meeting of the GST Council was held on July 11, 2023 in New Delhi, wherein it  was recommended <strong>to strengthen the registration process and to effectively  deal with the menace of fake and fraudulent registrations in GST<\/strong> by amending Rule 10A of the  Central Goods and Services Tax, Rules, 2017 to provide that the details of bank account, in name and  PAN of the registered person, to be required to be furnished within 30 days of  grant of registration or before filing of statement of outwards supply under  section 37 of CGST Act in&nbsp;<strong>FORM GSTR-1\/ IFF<\/strong>, whichever is earlier.<\/p>\n<p align=\"justify\"><strong><u>Notification:<\/u><\/strong><\/p>\n<p align=\"justify\">Accordingly,  The CBIC has issued &#8216;the Central Goods and Services Tax (Second Amendment)  Rules, 2023&#8217; vide&nbsp;<a href=\"https:\/\/www.klickongstworld.com\/uploads\/CGST\/TaxNotification\/1691231735.pdf\">Notification No. No. 38\/2023- Central  Tax dated 04.08.2023<\/a> to amend the CGST Rules 2017.<\/p>\n<p align=\"justify\">In  the said rules, in rule 10A, for the portion beginning with the words and  figure &#8220;as soon as may be, but not later than forty-five days&#8221; and ending with  the words &#8220;in order to comply with any other provision&#8221; the following shall be  substituted, namely:-<\/p>\n<p align=\"justify\"><em>&#8220;within  a period of thirty days from the date of grant of registration, or before  furnishing the details of outward supplies of goods or services or both under  section 37 in&nbsp;<\/em><strong>FORM GSTR-1<\/strong><em>&nbsp;or using invoice  furnishing facility, whichever is earlier, furnish information with respect to  details of bank account on the common portal&#8221;.<\/em><\/p>\n<p align=\"justify\"><strong>Analysis:<\/strong><\/p>\n<p align=\"justify\">Registered  persons will be required to furnish details of bank account <em>within a period of thirty days from  the date of grant of registration, or before furnishing the details of outward  supplies of goods or services or both under section 37 in&nbsp;<\/em><strong>FORM GSTR-1<\/strong><em>&nbsp;or using invoice furnishing  facility, whichever is earlier.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>2022\/06\/cbic-logo-new-1.jpg<\/p>\n","protected":false},"author":1,"featured_media":7535,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/posts\/9221"}],"collection":[{"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/comments?post=9221"}],"version-history":[{"count":3,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/posts\/9221\/revisions"}],"predecessor-version":[{"id":9224,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/posts\/9221\/revisions\/9224"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/media\/7535"}],"wp:attachment":[{"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/media?parent=9221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/categories?post=9221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/tags?post=9221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}