Advisory on Bank Account Validation on your GST Portal
Validate your Bank, or your GSTR-1 will get STOPPED – Advisory
GST dept notification alert
Your GSTR1 returns, will get blocked…if your current Bank account is not validated on GST portal.
Alert your accounts Department
And note… if your GSTR-1 is blocked… your customers will not get the GST ITC credit… and …. if they come to know of this… they “might” block your payments…..
Alert your accounts.
Regards,
Finsys MLG team
Excerpts in a user friendly language
Advisory on Bank Account Validation
Dear Valued Tax Payers,
1. GSTN is pleased to inform you that the functionality for bank account validation is now integrated with the GST System. This feature is introduced to ensure that the bank accounts provided by the Tax Payer is correct.
Interpretation / Notes:
….. Govt was facing problems…. Over years…. Citibank closed down, Syndicate Bank got merged…. various other banks merged…. some cooperative banks closed down.
People also shift from bank 1 to bank 2 , due to credit limits or rate of interest
Government was facing problem…. how to send refund and how to take recovery … and infact how to validate that the GSTIN person is genuine or not…. Bank account validation helps in that also
How to solve ?
2. The bank account validation status can be seen under the Dashboard→My Profile→ Bank Account Status tab in the FO portal. Tax Payers will also receive the bank account status detail on registered email and mobile number immediately after the
validation is performed for his declared bank account.
3. Post validation, any bank account number in the database would have one status out of the below mentioned four status types. The exact details of the accounts can be seen by hovering mouse over these icons in the Tax Payers’ dashboard in FO Portal.
Icon Description
Success
Failure
Success With Alert Remark
Pending for Validation
4. Whenever, the Tax Payer is shown ‘Failure’ icon with further details such as
– The entered PAN number is invalid.
– PAN not available in the concerned bank account.
– PAN Registered under GSTIN, and the PAN maintained in the Bank Account are not same.
– IFSC code entered for the bank account details is invalid.
In these cases, the Tax Payer is expected to ensure that he has entered correct bank
details and the KYC is completed by bank for his bank account.
5. Whenever, the Tax Payer is shown, the status of his bank account as ‘Success With Remark’ icon with details “The account cannot be validated since the bank is not integrated with NPCI for online bank account validation”, the Tax Payer should provide alternate bank account number so that it can be revalidated to expedite further online processes.
6. If the account status is shown as “Pending for Validation” then please wait since the account will be validated by NPCI.
7. The Tax Payer at any time can add/delete the bank account details and new account details will be validated.
Thank you for your cooperation.
Team GSTN
Additional Notes
The Finsys – Webtel integrated System will also not be able to push the GSTR-1 data from Finsys to the Government Portal. Since the Portal will stop as a barrier due to Bank account non compliance.
Hence, please take early action on this immediately
How much time does it take ?
It takes just 30 to 50 seconds, or let us say less than 1 minute
so, do it now
Hence, please take early action on this immediately
Link 1 : GST Dept published August 2024 : https://tutorial.gst.gov.in/downloads/news/advisory_on_bank_account_validation_17april2023.pdf
link 2 : GST Dept portal published 2022 :https://tutorial.gst.gov.in/downloads/news/new_functionalities_compilation_may_2022.pdf
Bank Account validation GSTR1 stop alert …
Note.. your customers are going to be affected too…. if you dont solve this now.
Do this for all your smaller companies also
do this for all your less used small turnover / non moving State GSTIN also
and also change in case of Debit Notes or Credit Notes you make for past Price Increases or Decreases
