1.

Basic records to be maintained by all registered persons

Under section 35(1), following records to be maintained:

• Production or manufacture of goods

• Inward and outward supply of goods or services or both

• Stock of goods

• Input tax credit availed

• Output tax payable and paid and

• Such other particulars as may be prescribed.

2.

Additional requirements for all registered person

Rule 56 provides that every registered person shall keep and maintain records of:

• Goods or services imported or exported

• Supplies attracting payment of tax on reverse charge

[along with the relevant documents, including invoices, bills of supply, delivery challans, credit notes, debit notes, receipt vouchers, payment vouchers, refund vouchers and e-way bills]

• Accounts of stock in respect of goods received and supplied; containing particulars of the opening balance, receipt, supply, goods lost, stolen, destroyed, written off or disposed of by way of gift or free samples and balance of stock including raw materials, finished goods, scrap and wastage thereof.

• A separate account of advances received, paid and adjustments made thereto.

• Details of tax payable (including under reverse charge), tax collected and paid, input tax, input tax credit claimed together with a register of tax invoice, credit note, debit note, delivery challan issued or received during any tax period.

• Names and complete addresses of suppliers from whom goods or services chargeable to tax, have been received

• Names and complete addresses of the persons to whom supplies have been made

• Complete addresses of the premises where the goods are stored including goods stored during transit alongwith particulars

3

Manufacturer

• Shall maintain monthly production accounts showing quantitative details of raw materials or services used in manufacture and of goods manufactured including the waste and by-products.

4

Service provider

• Maintain records in respect of goods used in rendering of services, input services utilized, and services supplied.

5

Works contract

Separate accounts for works contract showing:

• The names and addresses of the persons on whose behalf the works contract is executed

• Description, value and quantity (wherever applicable) of goods or services received for the execution of works contract

• Description, value and quantity (wherever applicable) of goods or services utilized in the execution of works contract

• The details of payment received in respect of each works contract and

• The names and addresses of suppliers from whom he has received goods or services

6

Agent & Principal

Every agent referred to in clause (5) of section 2 shall maintain accounts depicting the:

• Particulars of authorization received by him from each principal to receive or supply goods or services on behalf of principal

• Particulars including description, value and quantity (wherever applicable) of goods or services received or supplied on behalf of every principal

• Details of accounts furnished to every principal

• Tax paid on receipts or on supply of goods or services effected on behalf of principal

7

Records to be retained/preserved

• Every registered person shall keep the books of account at the principal place of business including books of accounts pertaining to additional place of business. This includes records maintained electronically which needs to be authenticated by a digital signature.

• Each volume of books of account maintained manually by the registered person shall be serially numbered.

• Any entry in registers, accounts and documents shall not be erased, effaced or overwritten and all incorrect entries and thereafter the correct entry shall be recorded

• A log of every entry edited or deleted shall be maintained

• Records in respect of invoices, bills of supply etc. have to be retained for a period of 72 months from the date of filing Annual Return.

• In case of matters which are pending in appeal or other proceedings, records are to be kept till the matters are settled plus a period of 1 year from the date of such orders or 72 months, whichever is later.

8

Generation and maintenance of electronic records

• Proper electronic back-up of records shall be maintained and preserved and in case of destruction of such records shall be restored within a reasonable period of time

• On demand, the relevant records or documents shall be duly authenticated by him and produced, in hard copy or in any electronically readable format

• On demand, details of files, passwords, explanation of codes and access to files shall be provided.

9

Owner or operator of godown or warehouse and Transporters

• The transporters, owners or operators of godowns, if not already registered under the GST Act(s), shall submit the details regarding their business electronically on the Common Portal in FORM GST ENR-01

• Transporters shall maintain records of consignor and consignee and of goods transported, delivered, received, goods stored in transit by him alongwith GST number of registered consignor and consignee for each of his branches

Owner or operator of godown or warehouse shall maintain record of:

• The period for which particular goods remain in the warehouse, including the particulars relating to dispatch, movement, receipt, and disposal of such goods.

• The goods shall be stored in such manner that they can be identified item wise and owner wise and shall facilitate any physical verification or inspection, if required at any time.

10

Clearing and forwarding agent or a carrier

• True and correct records in respect of goods handled by the clearing and forwarding agent or any other person in the capacity of a carrier