Maintainance of books for composition dealer

is it mandatory to maintain books for composition dealer.
THANKS IN ADVANCE
Replies (4)
Quick Summary
Yes, it is mandatory for composition dealers to maintain comprehensive accounting records. This includes stock registers detailing opening and closing stock, purchases, sales, and any stock written off or given free. You'll also need to keep sales and purchase registers, invoices, debit/credit notes, and records of tax payable and paid. Maintaining these complete books is crucial, even if your turnover stays within the composition limit.

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.
Well said Mr Gagan Gupta...
I agreed the above said reply...
Thankyou Mr. Raja
Agree with above

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