Tax Management India. Com TMI - Tax Management India. Com
Case Laws Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Manuals News SMS Articles Highlights
        Home        
Extracts
Home List
← Previous Next →

Are we maintaining documents and records as required under GST Laws? A Big Question

Goods and Services Tax - GST - By: - Anuj Bansal - Dated:- 2-4-2018 - By this time every tax professional is aware that GST is mainly following various kinds of compliances like filing of returns, e-way bills, etc. The department is silent and accepting all the returns, etc., without raising much issues. The intention is to provide a breathing or settling time to industry. However, till date no attention is given to the documents or records maintained or to be maintained in order to support the .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

numerous documents / records which are prescribed under the law specifically in Section 35 of CGST Act read Rules 56 to 58 of CGST Rules which are required to be maintained by every dealer. Once the GST is settled, then surely the department will get active and reconcile / review the returns with the documents and records maintained. For doing so the department is equipment with various online tools. Even the department may invoke provisions relating to Audit, Investigation, Search, Special Audi .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

re and quantitative details of the goods so manufactured including the waste and by products thereof; Inward and outward supply of goods or services or both; Stock of goods - Accounts of stock in respect of goods received and supplied, and such accounts shall contain the following particulars: Opening balance, Receipt, Supply, Goods lost, stolen, destroyed, written off or disposed of by way of gift or free sample Balance of stock above stock shall be maintained for each of the items like raw mat .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

person shall keep and maintain the following accounts: Details of Tax Payable, Details Tax Collected and Paid, Details of Input Tax and Input Tax Credit claimed, above shall be supported with a register of Tax Invoice, Credit & Debit Notes, Delivery Challan issued or received during any tax period. Documents to be maintained by Service Provider - Every registered person supplying services shall maintain the accounts showing quantitative details of goods used in the provision of services, det .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

lized in the execution of works contract; the details of payment received in respect of each works contract; and the names and addresses of suppliers from whom he received goods or services. Every agent shall maintain accounts depicting the,- Particulars of authorization received by him from each principal to receive or supply goods or services on behalf of such principal separately; Particulars including description, value and quantity (wherever applicable) of goods or services received on beha .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

lete addresses of the persons to whom he has supplied goods or services, where required under the provisions of this Chapter; the complete address of the premises where goods are stored by him, including goods stored during transit along with the particulars of the stock stored therein. Other Misc. Provisions: Any entry in registers, accounts and documents shall not be erased, effaced or overwritten, and all incorrect entries, otherwise than those of clerical nature, shall be scored out under at .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ed 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. Every registered person shall produce the books of accounts which he is required to maintain under any law for the time being in force. Documents shall be maintained at: Documents shall be kept and maintained at the registered place of business, as specified in Registration certificate. However, incase, where there are more than .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Discussion Forum
what is new what is new
 


Let's just recapitulate:

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.