TMI BlogAccounts and Records in GST by Registered person [section 35(1)]X X X X Extracts X X X X X X X X Extracts X X X X ..... g accounts and records. Category of person required to maintain the books of account and which place of maintenance of such books of account [ section 35(1) read with rule 56 (7) (10) ] Section 35(1) of the CGST Act, 2017 provides that every registered person shall keep and maintain, at his principal place of business, as mentioned in the certificate of registration. The transporters, warehouse keepers are required to maintain records of consigner, consignee or any relevant details even if they are not registered in GST. They need to enrol for the purpose. Place wise books for additional places where more than one place of business is specified in the certificate of registration, the accounts relating to each place of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... und vouchers. [Sub rule 1] Records of advance [Rule 56(3)] Every registered person shall keep and maintained a separate account of advances received, advance paid and adjustments made thereto. Particulars of the persons [ Rule 56(5)] Every registered person shall keep the particulars of - (a) names and complete addresses of suppliers from whom he has received the goods or services chargeable to tax under the Act; (b) names and complete addresses of the persons to whom he has supplied goods or services, where required under the provisions of this Chapter; (c) the complete address of the premises where goods are stored by him, including goods stored during transit alo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ivery challan issued or received during any tax period. Concequences on failure to maintain the account records, sub section 6 of section 35 of CGST Act Subject to the provisions of clause (h) of sub-section (5) of section 17 where the registered person fails to account for the goods or services or both in accordance with the provisions of sub-section (1) of section 35 of CGST Act , the proper officer shall determine the amount of tax payable on the goods or services or both that are not accounted for, as if such goods or services or both had been supplied by such person and the provisions of section 73 or section 74, as the case may be, shall, mutatis mutandis, apply for determination of such tax. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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