Mandatory Bank Account Details Submission Under GST

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Mandatory furnishing bank account details by registered taxpayers under Rule 10A of the Central Goods and Services Tax Act, 2017. Let's Understand What Is Rule 10A Under CGST Act, 2017. The objective of Rule 10A is to prevent fraudulent activities such as the creation of fake GST registrations and the generation of bogus invoices. By verifying the bank account details of new GST registrants, the government can ensure that only genuine businesses are registered under the GST regime. So all the registered taxpayers are required to furnish their bank account details within the prescribed period of time. Mandatory Bank Account Details Submission as Per Law: All Registered Taxpayers are required under the provisions of CGST Act, 2017 and the corresponding Rules framed thereunder to furnish  their bank Account  Details within 30 days of the grant of registration or before the due date of filing GSTR-1/IFF, whichever is earlier. Taxpayers are therefore advised to promptly furnish the...
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Mentioning of PAN & QR Code on Invoices is compulsory from 01.10.2021


Mentioning of PAN on Invoices is compulsory from 01.10.2021

example see in this bill

Section 139A(5)(C) read with rule 114B under Income Tax Act, 1961 has prescribed that all the sellers raising an invoice of Rs. 2 Lakh or more should mention the 10 digit PAN number of vendor & customer on each such invoice w.e.f 01-10-2021 onwards along with verification of such PAN as per Rule 114C. if Form 60 (Not having PAN) is received in lieu of PAN, then half yearly return is required to be filled in Form 61 as per Rule 114D. Non-compliance of it shall be liable for penalty u/s 272B of Rs. 10,000/- per invoice.

आयकर अधिनियम, 1961 के तहत नियम 114B के साथ पठित धारा 139A(5)(C) में यह निर्धारित किया गया हैं की सभी विक्रेताओं को 2 लाख या अधिक बिलो को नियम 114C के अनुसार ऐसे पैन के सत्यापन के साथ 01-10-21 से प्रत्येक Invoice पर  विक्रेता और ग्राहक के 10 अंको के पैन नंबर का उल्लेख करना चाहिए। यदि पैन के बदले में फॉर्म 60 (पैन न होने) प्राप्त होता है, तो नियम 114D के अनुसार फॉर्म 61 में अर्धवार्षिक (half yearly) Return भरना आवश्यक है। इसका पालन न करने पर धारा 272B के तहत Rs. 10,000/- प्रति invoice लगाया जायेगा।     


Mentioning of Dynamic QR Code for 500 crore turnover companies on Invoices is compulsory from 01.10.2021

Please also note that mentioning of Dynamic QR code on B2C invoices for 500 Crore turnover companies are practically also made compulsory now, as exemption from penalty of Rs. 25,000/- u/s 125 of CGST act has ended as on 30th Sept 2021.

कृपया यह भी ध्यान दें कि 500 ​​करोड़ टर्नओवर कंपनियों के लिए B2C इनवॉइस पर डायनेमिक QR का उल्लेख करना भी अब व्यावहारिक रूप से अनिवार्य कर दिया गया है, सीजीएसटी अधिनियम की धारा 125 के तहत 25,000/- रुपये के जुर्माने से छूट 30 सितंबर 2021 को समाप्त हो गया है।

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