Guidelines for Adding and Updating Bank Accounts on the GST Portal
This guide details the essential process of adding and updating bank account information on the GST portal for seamless compliance. It outlines a step-by-step procedure for new additions and explains how to modify existing details, including reasons for changes. Maintaining accurate bank data is crucial for efficient refund processing, invoice linking, and avoiding GST notices.
Properly managing bank account information within the GST portal is crucial for smooth Goods and Services Tax compliance, whether for new registrations or business detail changes. Incorrect or outdated bank details can lead to GST notices and operational disruptions. This guide provides a step-by-step explanation for adding, modifying, and updating bank accounts on the GST portal.
Procedure for Adding Bank Accounts to the GST Portal
To add a new bank account to your GST profile, follow these steps:
- Access the official GST portal at https://www.gst.gov.in and log in.
- Navigate through: Services > Registration > Amendment of Non-Core Fields.
- Select the 'Bank Accounts' tab.
- Click 'Add New' to initiate the process of adding a new bank account.
- Input the necessary bank details: * Bank Account Number * Type of Account (Savings/Current) * IFSC Code * Bank Name and Branch
- Upload one of the following supporting documents: * Cancelled Cheque (preferably with the business name printed) * Bank Statement (showing account holder’s name, account number, IFSC) * First page of Passbook
- Select 'Save'.
- Finalize the application submission using: * DSC (Digital Signature Certificate) – required for companies/LLPs * EVC (OTP-based) – for proprietors/others
Updating Existing Bank Details on the GST Portal
Situations requiring a bank detail update on the GST portal include changing your main bank, closing an account, or modifications to IFSC or branch codes. To alter current bank account details, follow the same initial steps used for adding an account, but choose 'Edit' instead of 'Add'. Remember to specify the amendment date and the reason for the change. This process is done through: Services > Registration > Amendment of Non-Core Fields. Maintaining up-to-date bank account information is essential for efficient refund processing, proper invoice linking, and overall compliance tracking. Note: You may add a maximum of 10 bank accounts under a single GSTIN. Ensuring your bank details are current and verified on the GST portal is a critical aspect of GST compliance. This facilitates smooth operations for tasks like refund processing and e-invoicing. Regularly reviewing your registered bank information is highly recommended.