1)is job worker providing job work of metal treatment services need to maintain stock of small parts purchased & used on particular job work. Right now we r not maintaining stock as small parts is used.
2) in gstr 1 in table 12 hsn wise summary table we are showing in descripttion of as goods job work and in quantity we are showing numbers equal to the bill. so are we following correct practice?
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job work accounting
Replies (1)
as per section 35 Cgst act ,
[1] Every registered person shall keep and maintain, at his principal place of business, as mentioned in the certificate of registration, a true and correct account of-
[a] production or manufacture of goods;
[b] inward and outward supply of goods or services or both;
[c] stock of goods;
[d] input tax credit availed;
[e] output tax payable and paid; and
[f] such other particulars as may be prescribed:
[1] Every registered person shall keep and maintain, at his principal place of business, as mentioned in the certificate of registration, a true and correct account of-
[a] production or manufacture of goods;
[b] inward and outward supply of goods or services or both;
[c] stock of goods;
[d] input tax credit availed;
[e] output tax payable and paid; and
[f] such other particulars as may be prescribed:
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