PPT: Accounts and Records | Taxation for CA Intermediate PDF Download

 Page 1


ACCOUNTS & RECORDS 
UNDER GST
Page 2


ACCOUNTS & RECORDS 
UNDER GST
1. What are the Records prescribed to be maintained for GST ?
2. Can the Accounts & Records be maintained electronically ?
3. Where Books of Accounts /Records have to be kept?
4. What is the period of which Records have to be retained ?
5. What is the requirement of Statutory Audit under GST law ?
6. What are the Specific Records prescribed for prescribed Businesses ?
7. Penal provision for non-maintenance of records.
8. Miscellaneous provisions.
TABLE OF CONTENT
Page 3


ACCOUNTS & RECORDS 
UNDER GST
1. What are the Records prescribed to be maintained for GST ?
2. Can the Accounts & Records be maintained electronically ?
3. Where Books of Accounts /Records have to be kept?
4. What is the period of which Records have to be retained ?
5. What is the requirement of Statutory Audit under GST law ?
6. What are the Specific Records prescribed for prescribed Businesses ?
7. Penal provision for non-maintenance of records.
8. Miscellaneous provisions.
TABLE OF CONTENT
Records to 
be 
Maintained 
Production 
of Goods
Inward & 
Outward 
Supplies
Stock of 
Goods
Input 
Tax 
Credit 
availed
Output 
Tax 
Payable & 
paid
Specified 
Registers 
& 
Document
s
1. RECORDS UNDER GST
Page 4


ACCOUNTS & RECORDS 
UNDER GST
1. What are the Records prescribed to be maintained for GST ?
2. Can the Accounts & Records be maintained electronically ?
3. Where Books of Accounts /Records have to be kept?
4. What is the period of which Records have to be retained ?
5. What is the requirement of Statutory Audit under GST law ?
6. What are the Specific Records prescribed for prescribed Businesses ?
7. Penal provision for non-maintenance of records.
8. Miscellaneous provisions.
TABLE OF CONTENT
Records to 
be 
Maintained 
Production 
of Goods
Inward & 
Outward 
Supplies
Stock of 
Goods
Input 
Tax 
Credit 
availed
Output 
Tax 
Payable & 
paid
Specified 
Registers 
& 
Document
s
1. RECORDS UNDER GST
WHAT ARE THE RECORDS PRESCRIBED UNDER GST LAW?
Every registered person shall keep and maintain true & correct Accounts of:-
1. Production or Manufacture of goods :-
Monthly Production Accounts showing quantitative details of:-
? Raw Materials or Service used in Manufacture
? Goods Manufactured
? Including Waste & By – Products.
2. Inward and Outward Supplies of Goods or Services or Both, including the following
? Goods or services Imported or Exported or
? Supplies attracting Payment of Tax on Reverse Charge
1. RECORDS UNDER GST
Page 5


ACCOUNTS & RECORDS 
UNDER GST
1. What are the Records prescribed to be maintained for GST ?
2. Can the Accounts & Records be maintained electronically ?
3. Where Books of Accounts /Records have to be kept?
4. What is the period of which Records have to be retained ?
5. What is the requirement of Statutory Audit under GST law ?
6. What are the Specific Records prescribed for prescribed Businesses ?
7. Penal provision for non-maintenance of records.
8. Miscellaneous provisions.
TABLE OF CONTENT
Records to 
be 
Maintained 
Production 
of Goods
Inward & 
Outward 
Supplies
Stock of 
Goods
Input 
Tax 
Credit 
availed
Output 
Tax 
Payable & 
paid
Specified 
Registers 
& 
Document
s
1. RECORDS UNDER GST
WHAT ARE THE RECORDS PRESCRIBED UNDER GST LAW?
Every registered person shall keep and maintain true & correct Accounts of:-
1. Production or Manufacture of goods :-
Monthly Production Accounts showing quantitative details of:-
? Raw Materials or Service used in Manufacture
? Goods Manufactured
? Including Waste & By – Products.
2. Inward and Outward Supplies of Goods or Services or Both, including the following
? Goods or services Imported or Exported or
? Supplies attracting Payment of Tax on Reverse Charge
1. RECORDS UNDER GST
3. Stock of Goods received & supplied, containing particulars of:-
? Opening balance,
? Receipt,
? Supply,
? Goods lost, stolen, destroyed, written off, disposed as free samples / gift
? Closing balance of stock.
Note:
? Separate records should be maintained for raw material, finished goods, scrap &
wastage thereof.
? Stock should contain information HSN wise for the ease of preparation of GST
returns.
1. RECORDS UNDER GST