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Accounts & Records:

Every registered person shall keep and maintain a true and correct accounts & records at his principal place of business for a period of seventy-two months from the due date of furnishing of annual return for the year pertaining to such accounts and records.

Illustrative list of accounts & records:

  • Detail of production or manufacturer of goods
  • Inward supply of goods or services or both
  • Outward supply of goods or services or both
  • Detail of stock of goods
  • Input tax credit availed
  • Output tax payable & paid
  • Goods or services imported or exported
  • Details of supplies attracting payment of tax on reverse charge basis
  • Details of tax payables including tax payable in case of reverse charge basis
  • Details of tax collected and paid, Input tax, Input tax credit claimed, Input tax Reversed
  • Invoices and Bills of supply
  • Credit Notes and Debit Notes
  • Receipt Voucher, Payment Voucher or Refund Voucher
  • Delivery Challan and E-Way Bills
  • Separate account of advance received, paid & adjustment made thereto.
  • Name & Complete address of supplier and the person to whom he has supplied.
  • The complete address of the premises where the goods are stored (including where the goods arte store in transit) along with the details of the stocks stored. If any taxable goods are found to be stored at any place(s) other than those declared above without the cover of any valid documents, the proper officer shall determine the amount of tax payable on such goods as if such goods have been supplied by the registered person.
  • Every registered person (other than person opt for composition scheme) shall also maintain account of stock in respect of EACH COMMODITY RECEIVED AND SUPPLIED BY HIM and such account shall contain following details:
Particulars Quantity
Opening Balance XXXX
Add: Receipt XXXX
Less: Supply XXXX
Less: Goods lost, Stolen or Destroyed* XXXX
Less: Written off or disposed of by way of Gift or free samples* XXXX
Closing Balance of stock
(Incl. Raw Material, Finished Goods, Scrap and Wastages thereof)

* Input tax credit availed in respect of such stock shall be reversed


Do I have to take multiple registrations?

A person with multiple business verticals in a state may obtain a separate registration for each business vertical. PAN is mandatory to apply for GST registration (except for a non-resident person who can get GST registration on the basis of other documents). A registration which has been rejected under CGST Act/SGST Act shall also stand rejected for the purpose of SGST/CGST act.

Whether I am exempted from GST registration?

Following persons are exempted from the GST Registration:-

  • 1. Agriculturists
  • 2. Persons making Nil-Rated/ Exempt supplies of goods and services
  • 3. Persons making Non-Taxable/ Non-GST supplies of goods and services
  • 4. Activities that are neither Supply of Goods nor Services
  • 5. Persons making only supplies covered under Reverse Charge