"Taxpayers are therefore advised to promptly furnish their bank account details, who have not provided it so far if 30 days period is shortly going to expire to avoid disruption in business activities and the subsequent suspension of GSTIN," it said. GSTN further said that a new functionality is being developed as per which taxpayers whose registration is suspended for non-submission of bank account details would be intimated through Form REG-31.
The Bombay High Court has directed the department to permit the petitioner or assessee to amend or rectify Form GSTR-1 for the period July 2021, November 2021, and January 2022, either online or.
"The department needs to avoid unwarranted litigation on such issues and make the system more assessee friendly. Such an approach would also foster the interest of revenue in the collection of taxes," the court said. The court permitted the petitioner company, Star Engineers (I) Pvt Ltd, which is engaged in designing and manufacturing electronic components for industrial purposes, to make necessary amendments or rectify the mistakes in its Form GSTR-1 either through online or manual means.
While the government has made e-invoicing mandatory for firms with turnover above Rs 5 crore, stakeholders say such firms would face challenges in implementing the technology.