Maintenance of accounts and other Record in GST Law – GST India

Maintenance of accounts and other Record in GST Law: No specific list of accounts or record has been recommended in Section 53 of GST Law. It just talked about the true and appropriate accounts of production or manufacture of goods, inward and outward supply of items and/ or services, accounts of stock of goods, record of input credit availed and output tax payable or paid. Now check more information for “ Maintenance of accounts and other Record in GST Law” from listed below…

Maintenance of accounts and other Record in GST Law

Accounts and other Record

Every registered taxable person shall maintain at his principal workplace [as mentioned in the certificate of registration] the following record.

  • Accounts of production or manufacture of products
  • Record of inward and external supply of items and/ or services
  • Record of stock of goods
  • Record of input tax credit availed
  • Record of output tax payable or paid
  • All other files as might be recommended

Commissioner/ primary commissioner might inform the class of person to maintain additional accounts or documents.

Taxable individual whose turnover throughout financial year go beyond the recommended limit, will get his accounts examined by chartered accounting professionals or expense accounting professional. Copy of such audited accounts with reconciliation statement as supplied in sec. 39[2] will be sent to correct officer.

Where taxable person fails to account for goods stolen, ruined, disposed off, the appropriate officer in this case figure out the quantity of tax payable on such goods which has actually not been accounted for and continue with provision of Section 66 and 67 of the act.

Every owner or operator of storage facility or godown shall preserve record of consigner, consignee and all other relevant details of the products as recommended whether individual is signed up or not.

Period of retention of accounts

Every RTP shall keep the record of all books of accounts and other record and will retain the same till the expiration of 60 month from the due date of furnishing the yearly return.


Record of FY 2017-18 will be maintain till 31.122023

Provided that where RTP remains in appeal, revision or any other case prior to any appellate or tribunal or court, whether filed by him or by department, or under examination of offense, shall retains the books for period of one year after the disposal of such proceeding or the duration specified above which shall be later.

Disclaimer: The contents of this short article are solely for details and knowledge and does not make up any expert advice or recommendation. Author does decline any liability for any loss or damage of any kind developing out of this details set out in the short article and any action taken based thereon.

Author– CA. Sanjeev Singhal

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