GST Accounts and Records, Books Maintain in GST Regime 2017

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Books Maintain in GST Regime: GST Accounts and Records, GST Records to be maintained, Maintenance of GST Accounting Records. Find List of all books Maintained in GST Regime, GST Accounts and Records Maintained in GST. Every registered person shall keep and maintain, at his principal place of business, as mentioned in the certificate of registration, a true and correct account of..

  • Production or manufacture of goods;
  • Inward and outward supply of goods or services or both;
  • Stock of goods;
  • Input tax credit availed;
  • Output tax payable and paid; and 6. Such other particulars as may be prescribed

Provided that where more than one place of business is specified in the certificate of registration, the accounts relating to each place of business shall be kept at such places of business:

Provided further that the registered person may keep and maintain such accounts and other particulars in electronic form in such manner as may be prescribed

  • Accounts relating to each place of business shall be kept at such places of business:
  • It may be maintained in prescribed electronic form.
  • Owner or operator of warehouse or godown or any other place used for storage of goods and every transporter, irrespective of whether he is a registered person or not, shall maintain records of the consigner, consignee and other relevant details as prescribed.
  • Accounts and records to be retained until the expiry of seventy-two months from the due date of furnishing of annual return for the year pertaining to such accounts and records

GST Accounts and Records, Books Maintain in GST Regime 2017

GST Records to be maintained

A true and correct account of the goods or services imported or exported or of supplies attracting payment of tax on reverse charge along with relevant documents such as;

  1. Invoices
  2. Bills of supply
  3. Delivery challans
  4. Credit notes
  5. Debit notes
  6. Receipt vouchers
  7. Payment vouchers
  8. Refund vouchers and
  9. E-way bills

Particulars of ;

a) Names and complete addresses of suppliers from whom he has received the goods or services;

b) Names and complete addresses of the persons to whom he has supplied the goods or services;

c) The complete addresses of the premises where the goods are stored by him, including goods stored during transit along with the particulars of the stock stored therein.

  • Each volume of books of account maintained by the registered person shall be serially numbered.
  • Any entry in registers, accounts and documents shall not be erased, effaced or overwritten, and all incorrect entries shall be scored out under attestation and thereafter correct entry shall be recorded.
  • A log of every entry edited or deleted in electronic records to be maintianed.

GST Accounts and Records Maintained by Manufacturer

Invoices Debit notes Refund vouchers 
Bills of supply Receipt vouchers E-way bills
Delivery challans Payment vouchers Credit notes
  • Monthly production accounts, showing the quantitative details of raw materials or services used in the manufacture;
  • Quantitative details of the goods so manufactured;
  • Quantitative details Waste and by products.

GST Accounts and Records Maintained by Job Contractor

Invoices Debit notes Refund vouchers 
Bills of supply Receipt vouchers E-way bills
Delivery challans Payment vouchers Credit notes
  • Registered person executing works contract shall keep separate accounts for each works contract.
  • The names and addresses of the persons on whose behalf the works contra ct is executed;
  • Description, value and quantity(wherever applicable) of goods or services received for the execution of works contract;
  • Description, value and quantity(wherever applicable) of goods or services utilized in the execution of each works contract;
  • The details of payment received in respect of each works contract; and
  • The names and addresses of suppliers from whom he has received goods or services.

GST Accounts and Records Maintained by Godown / Transport Operator

Every owner or operator of warehouse or godown or any other place used for storage of goods and every transporter, irrespective of whether he is a registered person or not, shall maintain records of the consigner, consignee and other relevant details of the goods in such manner as may be prescribed

  • If not already registered under the Act, shall submit the details regarding his business electronically on the Common Portal in FORM GST ENR-01, upon validation of the details furnished, a unique enrollment number shall be generated and communicated to the said person.
  • Any person engaged in the business of transporting goods shall maintain records of goods transported, delivered and goods stored in transit by him and for each of his branches.
  • Shall maintain books of accounts, with respect to the period for which particular goods remain in the warehouse, including the particulars relating to dispatch, movement, receipt, and disposal of such goods
  • Shall store the goods in such manner that they can be identified item wise and owner wise and shall facilitate any physical verification or inspection by the proper officer on demand.

Period of retention of GST Accounts

Every registered person required to keep and maintain books of account or other records in accordance with the provisions of sub-section (1) of section 35 shall retain them until the expiry of seventy two months from the due date of furnishing of annual return for the year pertaining to such accounts and records:

Provided that a registered person, who is a party to an appeal or revision or any other proceedings before any Appellate Authority or Revisional Authority or Appellate Tribunal or court, whether filed by him or by the Commissioner, or is under investigation for an offence under Chapter XIX, shall retain the books of account and other records pertaining to the subject matter of such appeal or revision or proceedings or investigation for a period of one year after final disposal of such appeal or revision or proceedings or investigation, or for the period specified above, whichever is later.

Check also:

Section 12 of IGST – Place of supply of services where…

 

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