Introduction of retention of accounts This section provides for the period up to which records and accounts must be retained by the registered person.
GST-Goods and Service Tax - 206. page
Goods and Services Tax Act – GST Law
Period of retention of accounts analysis
Period of retention of accounts analysis (i) Every registered person is required to mandatorily retain the books of accounts and other records until the expiry of 72 months (6 years) […]
Comparative Review
Comparative Review Rule 5(3) of Service Tax Rules, 1994 provides that all records shall be preserved for a period of five years immediately after the financial year to which […]
Analysis
Analysis (i) The importance of maintenance of books and records need no emphasis. It is presumed that all business entities would be aware of the nature of books and records […]
Comparative Review
Comparative Review Maintenance of records has been prescribed under the Central Excise, Service Tax and State VAT laws. The provisions are briefly discussed below: Service tax records Rule 5(1) […]
Issues and concerns
Issues and concerns 1. Multiple books of account for the same entity: While the accounts of a person are required to be maintained for the entire business concern (i.e., PAN-wise), […]
Period of retention of accounts
Period of retention of accounts Every registered person required to keep and maintain books of account or other records in accordance with the provisions of sub-section (1) of section 35 […]
Records to be maintained by owner or operator of godown or warehouse and transporters
Records to be maintained by owner or operator of godown or warehouse and transporters (1) Every person required to maintain records and accounts in accordance with the provisions of sub-section […]
Relevant circulars, notifications, clarifications issued by Government
Relevant circulars, notifications, clarifications issued by Government 1. Circular No. 23/23/2017 dated 21.12.2017 regarding maintenance of books of accounts for additional place of business by a principal or auctioneer for […]
Related provisions of the Statute
Related provisions of the Statute