Ppt on Accounting & Closing of Books under GST regime
Accounts & Records Sec.35(1)
Every registered person shall keep and maintain at his principal place of business a true and correct account of—
(a) production or manufacture of goods
(b) inward and outward supply of goods or services or both
(c) stock of goods
(d) input tax credit availed
(e) output tax payable and paid, and
(f) such other particulars as may be prescribed
Provided that where more than one place of business is specified in the certificate of registration, the accounts relating to each place of business shall be kept at such places of business.
Provided further that the registered person may keep and maintain such accounts and other particulars in electronic form in such manner as may be prescribed.
Place of Business Sec.2(85)
Sec.2(85) “place of business” includes––
(a) a place from where the business is ordinarily carried on and includes a warehouse, a godown or any other place where a taxable person stores his goods, supplies or receives goods or services or both; or
(b) a place where a taxable person maintains his books of account; or
(c) a place where a taxable person is engaged in business through an agent, by whatever name called;
Principal Place of Business Sec.2(89)
Sec.2(89) “principal place of business”
means the place of business specified as the principal place of business in the certificate of registration;
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