What are the Rules and and Regulations should follow for Finalization of Accounts as per GST

Finalising accounts under GST primarily follows standard accounting principles and accepted practices, rather than specific GST laws for account closure. While the CGST Act outlines records to be maintained for GST purposes, the actual finalisation relies on accounting standards. Key steps include reviewing inward and outward supplies, preparing charts based on GST returns (input vs. output tax), and verifying ledgers like cash, ITC, and liability.