Mandatory bank account submission required; failure leads to registration suspension and debarment from filing returns, revocable on update.
Registered taxpayers must furnish bank account details within the statutory period or before the GSTR-1/IFF due date. Failure triggers suspension of registration and issuance of FORM REG-31, accompanied by debarment from filing GSTR-1/IFF. Updating bank details in response to FORM REG-31 automatically revokes suspension. Continued non-compliance after the post-intimation period may lead the officer to initiate cancellation proceedings against the suspended registration.

Electronic payment methods expanded: cards and UPI now accepted for GST e-payments, alongside net-banking facility.
GST e-payment options now include Cards (Credit and Debit cards issued by Indian banks, recognising Mastercard, Visa, RuPay and Diners for credit cards) and Unified Payments Interface (UPI), added alongside existing net-banking to enable taxpayers to remit GST liabilities through these channels.

E commerce operator tax collection: new GSTR-1 tables live to capture supplies where the operator collects or pays tax.
Two new return fields, Tables 14 and 15 in GSTR-1, must capture supplies effected through e commerce operators where those operators are required to collect tax or are liable to pay tax; these tables are live on the GST common portal and available in GSTR-1/IFF from the January 2024 tax period pursuant to the enabling notification.

GST bogus registrations crackdown protects revenue and blocks fraudulent input tax credits under strengthened registration and data analytics measures.
A focused GST enforcement drive detected 29,273 bogus firms since mid May 2023 involving suspected ITC evasion of Rs. 44,015 crore; interventions blocked or recovered Rs. 4,646 crore and led to 121 arrests. In the December 2023 quarter, 4,153 bogus firms with suspected ITC evasion of about Rs. 12,036 crore were found. Measures to curb such frauds include pilot biometric Aadhaar authentication at registration, sequential return filing, system reconciliations for return mismatches, and use of data analytics and risk parameters to detect and block fake ITC.

GST revenue growth continues as monthly collections and IGST settlements bolster central and state receipts.
Gross GST collections rose 12% year on year in April-December 2023 with a higher average monthly gross collection than the prior year. December 2023 receipts are broken down into CGST, SGST, IGST (including imports) and cess, and December marked the seventh month with collections above the monthly high threshold. The release reports IGST transfers to CGST and SGST, post settlement Centre and State totals for December, and provides state wise pre and post settlement SGST figures for April-December to show distributional growth and the role of import and domestic transaction revenues.

GTA payment option for GST forward or reverse charge now selectable online; declarations and manual uploads enabled on portal.
GTA taxpayers must elect annually between paying GST under the forward charge or reverting to reverse charge by filing declarations electronically: existing taxpayers use Annexure V to opt for forward charge or Annexure VI to revert to reverse charge, newly registered GTAs can file Annexure V within the dashboard displayed due date, and acknowledged manually filed Annexure V forms for the prior year may be uploaded for record; an election to self pay GST is deemed to continue for subsequent years unless Annexure VI is filed to revert.