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Accounts & Records
Maintenance of accounts by registered persons
  • Every registered person shall keep and maintain, in addition to the particulars mentioned in sub-section (1) of section 35, 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 the relevant documents, including invoices, bills of supply, delivery challans, credit notes, debit notes, receipt vouchers, payment vouchers and refund vouchers.
  • Each registered person is required maintain a true and correct account of the following:-
  • 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
  • Any other particulars deemed necessary
  • The above records must be maintained at each place of business registered under GST.
Other points

Every registered person must also maintain relevant documents including invoices, bills of supply, delivery challans, credit notes, debit notes, receipt vouchers, payment vouchers, refund vouchers, and electronic way (e-way) bills. Additionally, there must be separate records for each activity (i.e., manufacturing, trading, and the provision of services). Records must be in serially-numbered account books and include the following information:

  • Names and complete addresses of suppliers.
  • Names and complete addresses of customers.
  • Address of all premises where the goods are stored, including goods stored during transit, and descriptions of the stock stored.
Registered person other than person falling u/s 10 (composition levy)

Furthermore, all the registered people other than those falling under composition levy scheme must maintain accounts of stock for each commodity received and supplied, along with the following information:

  • Opening balance.
  • Receipt.
  • Supply.
  • Goods lost, stolen, destroyed, written off, or disposed of by way of gift or free samples.
  • Balance of stock including raw materials, finished goods, scrap, and waste These registered persons must also maintain an account containing the following details.
  • Tax payable.
  • Tax collected and paid.
  • Input tax and input tax credit claimed.
  • Register of tax invoice, credit note, debit note, and delivery challan issued or received during any tax period.
Registered works contractor

Every registered person executing works contract shall keep separate accounts for works contract showing :

  • The name and address of the persons on whose behalf the works contract 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 works contract.
  • The details of payment received in respect of each works contract.
Registered manufacturer of goods

Every registered person manufacturing goods shall maintain monthly production accounts showing quantitative details of raw materials or services used in the manufacture and quantitative details of the goods so manufactured including the waste and by products thereof.

Registered service provider

Every registered person supplying services shall maintain the accounts showing quantitative details of goods used in the provision of services, details of input services utilised and the services supplied.

Electronic record-keeping requirements
  • Electronic records must be authenticated by means of a digital signature.
  • Electronic records must be backed-up and shall be maintained and preserved 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.

In addition, taxpayers must be able to produce on demand an account of the audit trail and inter-linkages, including the source document (paper or electronic), financial accounts, record layout, data dictionary, an explanation for codes used, and the total number of records in each field along with sample copies of documents.

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