GST Accounts & Records – Provisions, Place of Maintenance 2021

GST Accounts & Records: Introduction of GST as a new indirect tax routine would be advantageous to the whole community consisting of citizens, Government in addition to the trade bodies. With the execution of GST, the tax system would become much easier due to the elimination of cascading result and transparency in tax system, leading to almost uniform rates throughout the country. GST would declare an age of cooperative federalism and would bring performance and transparency in tax administration. Now inspect more details about “ GST Accounts & Records” from below …

GST Accounts & Records

GST Accounts & Records

Applicable Provisions

  • Section 35 and 36 of the CGST Act
  • Draft Accounts & Records Rules as informed on April 19, 2017.

Applicable on

  • All registered persons.
  • Unregistered individuals being owner or operator of warehouse/godown/any other location utilized for storage of items.

Specified Books of Accounts

  • Inward/Outward supply of goods and/or services
  • Names & total addresses of the inward/outward providers
  • Stock of goods wrt each commodity got/ supplied
  • Particulars of great lost, taken, destroyed, written off or disposed of by method of gift or free samples
  • Stock of scrap and wastage.
  • Input tax credit availed
  • Output tax payable and paid
  • Goods or services imported or exported
  • Supplies bring in tax on reverse charge
  • Advances got and paid and modifications relating thereto

The aforesaid accounts shall be maintained separately for every activity undertaken such as manufacturing, trading, provisions of service etc

The Commissioner or Chief Commissioner may add more records to be preserved.

Further owner or operator of a location of storage of products, to keep–

  • Details of consignor, consignee
  • Other prescribed information such as receipt, motion and disposal of items.

The stock of goods to be maintained in such a manner as recognizable item-wise and owner wise.

If not signed up to send details of organization in Form GST ENR-01 for considering regn. under these rules.

Relevant Documents

The taxpayer should keep and maintain all the important documents including

  • Invoices
  • Bills of supply and shipment challans,
  • Credit and Debit notes,
  • Receipt and payment coupons,
  • Refund coupons and
  • E-way expenses.

Place of Maintenance

  • At the primary business as defined in registration certificate.
  • If numerous business defined in the certificate of GST registration, then to be kept at the associated business locations.

Maintenance of Records in Electronic Form

  • Allowed to keep accounts in electronic type in way to be recommended
  • Proper backup of electronic records to be kept.
  • On demand produce properly authenticated copies of records kept electronically as paper copy or in electronically readable format

How to Rectify Incorrect Entries in Accounts

  • No entries to be removed effaced or overwritten.
  • Incorrect entries to be rubbed out under attestation and thereafter proper entry be tape-recorded.
  • Log of every entry modified or deleted to be kept where electronic records kept.

Additional accounts required to be kept by the following class of providers:–LRB-


Monthly production accounts with quantitative details-

  • Raw materials or services used in the manufacture of products manufactured including waste & by products thereof.
  • ( Similar to excise records preserved under the existing program.)

Service Provider

Accounts showing the

  • Quantitative information of products utilized in the provision of each service
  • Details of input services used and the services supplied.


On behalf of each Principal the following details require to be maintained in regard of items & services received or supplied

  • Authorization got.
  • Description, Value & Qty of goods/services gotten on behalf of principal and tax paid on supply thereof.
  • Details of accounts furnished to principal

Works Contractor

For each works contract got

  • The names & addresses of the contractee.
  • Details of payment received
  • Description, Value & Qty received/utilized of goods/services for each works contract
  • The names & addresses of providers from whom got.
  • Payments made wrt each works contract.


Section 2( 5) to the CGST Act,2017 summarize representative as meaning an individual, including an element, broker, commission representative, arhatia, del credere agent, an auctioneer or any other mercantile agent, by whatever name called, who carries on business of supply or receipt of products or services or both on behalf of another

Chapter VII of CGST Rules, 2017 deals with Accounts & Records Rules and Rule 56 defines the records to be maintained by a representative. Rule 56(11) specifies that every agent referred to in stipulation (5) of area 2 shall maintain accounts depicting the following:

  • particulars of authorisation received by him from each principal to get or provide products or services on behalf of such primary separately
  • particulars including description, worth and quantity (anywhere suitable) of items or services gotten on behalf of every principal
  • details including description, worth and quantity (any place relevant) of items or services provided on behalf of every principal
  • details of accounts furnished to every principal; and (e) tax paid on invoices or on supply of items or services effected on behalf of every principal

Requirement of Audit– If turnover > Rs.2 Crore

  • By Chartered/Cost Accountant.
  • Copy of audited annual accounts and reconciliation statement to be sent in form GSTR 9B while filing the yearly return in Form GSTR-9.
  • In Reconciliation statement, Chartered Accountant to certify that worths stated in GST return reconciles with the audited accounts.

Period of Retention

  • Seventy-two months (6 Years) from the last date of filing of Annual Return for the pertinent year.
  • Records being subject of litigation to be maintained
    • 1 year from the date of final disposal of case, or
    • till the expiration of 6 years from the due date of the yearly return.

Whichever is later on

Recommended Articles–

  • GST Refund
  • GST Return
  • GST Forms
  • GST Rate
  • GST Registration
  • What is GST?
  • GST Invoice Format
  • ITC under GST
  • HSN Code
  • GST Login
  • GST Rules
  • GST Status
  • Track GST ARN
  • Time of Supply