Following records are required to be maintained:
- Production or Manufacture of Goods (Monthly Production Accounts)
- Inward & Outward Supply of goods or services;
- Stock of Goods received and supplied (Details such as Opening Balance, Receipt, Supply, Goods lost, stolen, destroyed, written off or disposed of by way of gift or free samples, balance of stock including raw-material, finished goods, scrap and wastage thereof).
- Input Tax Credit Availed
- Output tax payable & paid
- Goods & Services imported and exported
- Supplies attracting payment of tax on reverse charge basis along with relevant documents
- Invoices/Bill of Supply/Delivery Challans/Credit Notes/Debit Notes
- Receipt, Refund & Payment Vouchers
- Advances received, paid & adjustments made thereto
- Names & Complete Addresses of suppliers from whom goods or services are received chargeable to tax;
- Names & Complete Addresses of persons to whom the goods or services are supplied
- Complete address of the premises where goods are stored including goods stored in transit along with particulars of stock stored therein.
Books of accounts are required to be maintained at the Principal Place of Business. Records relating to additional place of business can be maintained at such place.
Records can be maintained in electronic form of data on any electronic device. Such records are required to be authenticated by means of a digital signature.
No entry in registers, accounts and documents be erased, effaced or overwritten. All incorrect entries to be scored out under attestation and correct entry should be recorded.
Where the registers and other documents are maintained electronically, a log of every entry edited or deleted is required to be maintained.
Records are required to be retained until the expiry of seventy-two (72) months from the due date of furnishing annual return for the year pertaining to such accounts & records.
Any person having custody over the goods in the capacity of a carrier or a clearing & forwarding agent for delivery or dispatch thereof have to maintain records in respect of such goods handled by him on behalf of such registered person.
Owner or Operator of godown or warehouse and transporters are required to maintain records.