As per Section 35 of the Act, read with Draft Accounts and Records Rules, a registered taxable person needs to maintain the following mandatory books of on a true and correct basis:
- Stock of goods
- Production or manufacture of goods
- Inward/Outward supply of Goods/Services
- Input tax credit availed
- Output tax payable and paid
Additional Accounts other than Mandatory Books
Apart from mandatory books, a registered taxpayer also need to maintain below mentioned Additional Accounts
- Names and address of suppliers and receivers of goods/services
- Complete address of locations where goods are stored
- Accounts of stock for each commodity received or supplied
- Goods/services exported or imported
- Supplies involving reverse charge along with proper documents
- Tax payable on RCM
- Advances received, paid and adjusted
- Tax payable, tax collected and paid, input tax, input tax credit claimed, together with a register of tax invoice, credit note, debit note, delivery challan issued or received during any tax period;
Accounts to be Maintained by Registered Taxable Person Providing Works Contract Service
According to Rule 1(15) of Accounts and Records Rules, 2017 the registered taxable person who provides works contract service shall maintain the accounts showing:
- the names and addresses of the persons on whose behalf the works contract is executed;
- the names and addresses of suppliers from whom a taxable person has received goods or services;
- description, amount, and quantity (if applicable) of goods / services procured for the execution of works contract;
- description, amount, and quantity(if applicable) of goods / services utilized in the execution of each works contract;
- Payments received in respect of each works contract
Accounts to be Maintained by Every Agent
Every agent as per the GST is required to maintain the following accounts:
- Details of authorization received by him from every principal separately relating to supply or receive goods/services on behalf of principal
- Details description, amount and quantity of goods/services received or supplied
- Details of account furnished to every principle
- Tax paid on supply or receipt of goods/services on behalf of every principle
Accounts to be Maintained by Every Owner or Operator of Warehouses or Godowns
Every owner/operator of warehouse or godowns or any other place used for storage of goods and transporter (whether registered or not) needs to maintain records of consigner, consignee and other relevant details as under:
For transporter
- Goods transported
- Goods delivered
- Goods stored in transit by him or branches
For owners/operators of godowns/warehouses
- Accounts related to that period for which goods remain with him
- Details of dispatch, movement, receipt and disposal
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