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Maintaining books of accounts

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22 Points Posted on 18 April 2021
it is mendatory in gst to maintain books of accounts or it is only in income tax.
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On 18 April 2021 at 21:04 Report
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Chartered Accountant
24588 Points Posted on 18 April 2021
Maintain books of accounts when income exceeds certain exemption limit in income tax.

As per the GST Act, every registered taxable person must maintain the accounts books and records for at least 72 months (6 years)
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On 18 April 2021 at 21:25
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1388 Points Posted on 18 April 2021
You need to maintain books of accounts for 72 months after the due date of annual return of such financial year as per section 35 of cgst Act
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On 18 April 2021 at 21:50
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GST Practitioner
55067 Points Posted on 18 April 2021
Yes it's mandatory.
In term of Section 35 of CGST need to keep & maintain accounts.
And in term of Rule 56 of CGST Act , need maintain accounts of stock & all the documents cover under chapter VII
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On 18 April 2021 at 23:22


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