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Draft GST Rules - Accounts and Records

Goods and Services Tax - GST - Dated:- 19-4-2017 - CHAPTER- ACCOUNTS AND RECORDS 1. Maintenance of accounts by registered persons (1) 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 relevant documents, including invoices, bills of supply, delivery .....

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the opening 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. (4) Every registered person shall keep and maintain a separate account of advances received, paid and adjustments made thereto. (5) Every registered person, other than a person paying tax under section 10, shall keep and maintain an account, containing the de .....

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ces; (b) names and complete addresses of the personsto 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. (7) If any taxable goods are found to be stored at any place(s) other than those declared under sub-rule(6) without the cover of any valid documents, the proper officer shall determ .....

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written, and all incorrect entries shall be scored out under attestation and thereafter correct entry shall be recorded, and where the registers and other documents are maintained electronically, a log of every entry edited or deleted shall be maintained. (10) Each volume of books of account maintained by the registered person shall be serially numbered. (11) Unless proved otherwise, if any documents, registers, or any books of account belonging to a registered person are .....

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tity(wherever applicable) of goods or services received on behalf of every principal; (c) particulars including description, value and quantity(wherever applicable) of goods or services supplied on behalf of every principal; (d) details of accounts furnished to every principal; and (e) tax paid on receipts or on supply of goods or services effected on behalf of every principal. (13) Every registered person manufacturing goods shall main .....

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works contract shall keep separate accounts for each works contract showing - (a) the names and addresses of the persons on whose behalf the works contract is executed; (b) description, value and quantity(wherever applicable) of goods or servicesreceived for the execution of works contract; (c) description, value and quantity(wherever applicable) of goods or servicesutilized in the execution of each works contract; (d) the details of payment recei .....

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supply and outward supply shall be preserved for the period as provided in section 36of the Act and shall be kept at every related place of business mentioned in the certificate of registration. (18)Any person having custody over the goods in the capacity of a carrier or a clearing and forwarding agent for delivery or dispatch thereof to a recipient on behalf of any registered person shall maintain true and correct records in respect of such goods handled by him on behalf of the suc .....

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ion can be restored within reasonable period of time. (2) The registered person maintaining electronic records shall produce, on demand, the relevant records or documents, duly authenticated by him, in hard copy or in any electronically readable format. (3) The registered person shall also provide, on demand, an account of the audit trail and inter-linkages including the source document, whether paper or electronic, and the financial accounts, record layout, data dictiona .....

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