is it mandatory to maintain books for composition dealer.
THANKS IN ADVANCE
Composition dealer shall maintain following accounting records
Stock record - op. stock - purchases - sale - closing stock.
stock written off, given free of cost etc.
sale register, purchase register, sale invoice, purchase invoice, debit/credit note.
tax payable, tax paid.
In short, composition dealer has to maintain complete set of books of accounts. Is also helpful in case turnover exceeds the composition limit.
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