Bank account reporting requirement compels registered persons to furnish bank details on the common portal or face compliance consequences. A new mandatory bank account reporting obligation requires most newly registered persons to furnish bank account details on the common portal within a short prescribed period or by the earlier of that period and the first return due date, with non-compliance constituting a rule violation; parallel form amendments capture bank-account data. The rules clarify valuation excluding Kerala Flood Cess, permit QR code requirements on invoices and bills of supply, authorize inter-head transfers in the electronic cash ledger via FORM GST PMT-09, replace 'payment advice' with 'payment order' for disbursements, create a refund mechanism for airport retail outlets under FORM GST RFD-10B, and adjust anti-profiteering timelines and investigatory powers.
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Bank account reporting requirement compels registered persons to furnish bank details on the common portal or face compliance consequences.
A new mandatory bank account reporting obligation requires most newly registered persons to furnish bank account details on the common portal within a short prescribed period or by the earlier of that period and the first return due date, with non-compliance constituting a rule violation; parallel form amendments capture bank-account data. The rules clarify valuation excluding Kerala Flood Cess, permit QR code requirements on invoices and bills of supply, authorize inter-head transfers in the electronic cash ledger via FORM GST PMT-09, replace "payment advice" with "payment order" for disbursements, create a refund mechanism for airport retail outlets under FORM GST RFD-10B, and adjust anti-profiteering timelines and investigatory powers.
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