My GST client is having 2 bank accounts, CD and CC.
A few deposits go to the CD account.
Most of the sale deposits go to the CC account.
Now he refused to show me the CC account deposits and told me to take the CD account details instead.
Both the accounts are on the same PAN.
What would be the impact?
(Client is from J&K, under 20 lac turnover in Printing and Publishing business. Purchases mostly from outside and sells only within J&K.)
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Bank deposits ignored
Replies (1)
Summary: Failing to disclose an active business bank account is a violation of GST compliance rules (Rule 10A). It carries a high risk of automatic registration suspension, which would block invoicing and return filing. You should advise your client to add all bank accounts on the GST portal immediately to avoid severe operational disruptions and potential tax audits.
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