GST stands for Goods and Services Tax, and it is a multi-stage tax structure that is imposed on the supply of goods and services. The main goal of this taxation scheme is to prevent other indirect taxes from cascading. The Goods and Services Tax (GST) is a tax that applies to both goods and services.
GST is an indirect tax that was implemented in India to replace a variety of indirect taxes such as value-added tax (VAT), service tax, excise duty, and so on. The GST Act was signed into law on March 29, 2017, and went into effect on July 1, 2017.
At the time of GST registration, the requirement for bank account information was withdrawn. It is now expected after the first login since a bank account cannot usually be opened prior to the start of business. Bank account information may be added by changing a non-core area.
Other than the core fields listed, the rest of the fields will be referred to as non-core fields under GST.
How To Change Bank Account Details On GST Portal?
Step 1: Login GST Portal
Step 2: Go to Services
Step 3: Click on Registration
Step 4: Click on the tab Amendment of Registration Non-Core Fields
Step 5: Select tab Bank Accounts
Step 6: Click on the verification tab, select authorized signatory, enter a place
Step 7: Sign application using DSC, E-sign or EVC.
A success message appears on the screen, and a copy of the acknowledgment is sent to the registered email and mobile phone.
How to add bank details in the GST portal?
Step 1: Log in with the provided credentials to the GST portal
Step 2: Click on the 'Services' tab from the main menu
Step 3: Click on the 'Registration' tab under the services
Step 4: Click on 'Amendment Of Registration Non-Core Fields'
The Non-Core fields are editable; edit the information in the appropriate fields and tabs.
Fields that cannot be modified in the GST portal:
GST registration is entirely dependent on the PAN number, so any changes to the specifics of the PAN card are not possible.
Changes in the structure of a company are not possible because they necessitate a shift in the PAN number in the first place.
It is not possible to change the location of a state from one state to another because GST registration is state-specific.