9911796707
TMI BlogAccounts and Records in GSTX X X X Extracts X X X X X X X X Extracts X X X X ..... of the CGST Act, 2017 and Chapter VIII of the CGST Rules, 2017 (hereinafter referred to as rules) provide that every registered person shall keep and maintain all records at his principal place of business. It also cast, responsibility on owner or operator of warehouse or godown or any other place used for storage of goods and on every transporter, irrespective of whether he is a registered person or not, to maintain specified records. The section also empowers the Commissioner to notify a class of taxable persons to maintain additional accounts or documents for specified purpose or to maintain accounts in other prescribed manner. It also provides that every registered person whose turnover during a financial year exceeds the prescribed lim ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... balance, receipt, supply, goods lost, stolen, destroyed, written off or disposed of by way of gift or free samples and balance of stock including raw materials, finished goods, scrap and wastage thereof; b) a separate account of advances received, paid and adjustments made thereto; c) an account, containing the details of tax payable, tax collected and paid, input tax, input tax credit claimed, together with a register of tax invoice, credit note, debit note, delivery challan issued or received during any tax period [not required for person paying tax under section 10]; d) names and complete addresses of suppliers from whom goods or services , chargeable to tax under the Act, have been received; e) names and complete add ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proved otherwise, if any documents, registers, or any books of account belonging to a registered person are found at any premises other than those mentioned in the certificate of registration, they shall be presumed to be maintained by the said registered person. If any taxable goods are found to be stored at any place(s) other than those declared without the cover of any valid documents, the proper officer shall determine the amount of tax payable on such goods as if such goods have been supplied by the registered person. 7. Attention is invited to Circular No. 23/23/2017- GST dated 21.12.2017 which provides relaxation from maintenance of books of accounts relating to additional place of business by a principal or an auctioneer for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ove (seventy-two months), whichever is later. 10. Electronic Records: The following requirements have been prescribed for maintenance of records in electronic form. Proper electronic back-up of records in such manner that, in the event of destruction of such records due to accidents or natural causes, the information can be restored within a reasonable period of time. produce, on demand, the relevant records or documents, duly authenticated, in hard copy or in any electronically readable format. Where the accounts and records are stored electronically by any registered person, he shall, on demand, provide the details of such files, passwords of such files and explanation for codes used, where necessary, for access and any ..... X X X X Extracts X X X X X X X X Extracts X X X X
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