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ACCOUNTING RECORDS FOR GST REGISTERED DEALERS

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Kollipara Sundaraiah

B.com

2405 Points Posted on 21 January 2022

A Gst non registered person new registered apply in gst act.which type of accounting records maintained below mentioned persons in gst act.

Question:

1.If Dealer composite scheme registered applied in gst act.

2.if Dealer regular scheme registered applied in gst act.

Replies (3)

Quick Summary

This discussion clarifies the accounting records required for dealers registered under the GST Act, whether they opt for the composite or regular scheme. It highlights that all registered persons must maintain specific books of accounts as mandated by Section 35-36 of the CGST Act and Rules 56-58. Essential records include sales, purchase, stock, bank, and cash books, alongside GST returns.

prasad Nilugal

GST Practitioner & Accounts

8996 Points Posted on 21 January 2022

As far as for GST compliance is concerned , registered person has to maintain books of accounts as per section 35 , 36 of the CGST act 2017 and rule 56, 57,58 of the CGST rules 2017 , after registration in GST.