- Under GST law, Every registered person is required to maintain following books of accounts and other records at its principal place of business which is shown in its certificate of registration:
1. Production or manufacture of goods;
2. Inward and outward supply of goods or services or both.
3. Stock of goods
4. Input tax credit availed
5. Output tax payable and paid
6. Such other particulars
2. Every owner or operator of warehouse or godown or any other place used for storage of goods and every transporter shall maintain records of the consigner, consignee and other relevant details of the goods whether such person is a registered person or not.
3. Every registered person is required to get its accounts audited by a chartered accountant or cost accountant, where turnover of such person exceeds Rs. 2 crore during financial year.
4. Every registered person is required to maintain & retain these accounts and other records for a period of 72 months from the date of furnishing of Annual return for the year to which such accounts & records relates.
Note – Please note that the above article is for education purpose only. This is based on our interpretation of laws which may differ person to person. Readers are expected to verify the facts and laws.
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