Business Pathshala on Accounts & Records under GST

Each enrolled person under GST is expected to keep and manage all defined Accounts and records at his primary place of business. Section 35 of the CGST Act, 2017 has calculated the burden on the proprietor or supervisor of warehouse or godown or any other area used for the accommodation of goods and on every transporter to maintain specified records.

Topics to be covered in this Session are:

Who must maintain accounts under GST?
What records must be maintained under GST?
What are the accounts which must be maintained under GST?
Records for agents, godown operations, etc.
Invoice under GST
Specimen of GST invoice
Electronic cash and credit ledger
Period for retention of accounts under GST

If the taxpayer neglects to manage proper records in respect of goods or services, then an officer shall treat such unaccounted goods or services as if the taxpayer had provided them. The administrator will prepare the tax liability on such unaccounted goods.