Maintaining books of accounts
Only Fun Time (22 Points)
18 April 2021
it is mendatory in gst to maintain books of accounts or it is only in income tax.
3 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 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)
As per the GST Act, every registered taxable person must maintain the accounts books and records for at least 72 months (6 years)
RENU SHARMA
(1388 Points)
Replied 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
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 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
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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