Suggestions on GST Implementation Issues 28.09.2017 by ICAI
48. Definition of Books of Accounts for the purpose of GST
Section 35 of the CGST Act provides that every registered taxable person shall keep and maintain, at his principal place of business, as mentioned in the certificate of registration, a true and correct account of production or manufacture of goods, of inward or outward supply of goods or services or both, of stock of goods, of input tax credit availed, of output tax payable and paid, and such other particulars as may be prescribed in this behalf:
PROVIDED that where more than one place of business is specified in the certificate of registration, the accounts relating to each place of business shall be kept at such places of business concerned:
PROVIDED FURTHER that the registered taxable person may keep and maintain such
accounts and other particulars in the electronic form in the manner as may be prescribed.
Suggestion
It is suggested to define the term “Books of Accounts” for the purpose of GST. The reference
for the books of accounts has also been made in Time of Supply provisions. A clear meaning
would thus support correct interpretation.
Read Complete Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee in PDF
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