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.)
Menu
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.
Recent Topics :
- Income tax act 2026
- Belated Return where Form 10IEA filed this year to
- GST Reconciliation Tool (2A vs Books) - looking fo
- TDS ON PF FORM 19 WITHDRAWAL
- Can a virtual office in Mumbai be used for company
- Eway and e invoicing in condition where 4 party ar
- Bank balance in ITR-3
- INCLUDING PROFITS FROM REIT / INVIT IN SHARE TRADI
- Tempsens Instruments IPO GMP Allotment Listing dat
- Upload Type - Correction. Not showing in TDS filli
Related Topics :
CAclubindia
