Accounts and Records to be maintained by Registered person under GST Law

Every tax payer under GST law is required to self-assess the tax payable by him or for the business and furnish periodical return with the government stating all the details.

After filing the return, department will carry on compliance verification. During compliance verification, if the department requires then they may call for additional record based on which tax paid has to be arrived.

For this reason, it’s required under GST law to cast on the tax payer to maintain accounts and records as per GST law.

Also Read: Who is liable to get registered under GST law

In this article we will be discussing accounts and records to be maintained by the tax payer under GST law.

Accounts and records under gst law

As per GST law, every registered person in India shall keep and maintain at his principal place of business, as mentioned in the certificate of registration, a true and correct account of—

  • 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

Where they have more than one place of business in the certificate of registration, the accounts relating to each such place of business shall be kept at such places of business.

This means a tax payer is not allowed to maintain records at a single place for all the places mentioned in the certificate of registration. The accounts and records relating to each place of business shall be kept at such places of business concerned.

If any class of taxable persons are not in a position to keep and maintain accounts in accordance with GST law then the Commissioner may consider, for reasons to be recorded in writing, permit such class of taxable persons to maintain accounts in any other manner.

Warehouse, transport and godown owners are required to maintain the records of the consignor, consignee and other relevant details of the goods. It’s applicable to both registered and unregistered warehouse, transport and godown owners.

Records and accounts can be kept in physical or electronic form.

Period of retention of accounts and records under GST Law

Every registered person required keeping and maintaining books of account or other records shall retain these records and account until the expiry of 72 months (6 years) from the due date of furnishing of annual return for the year pertaining to such accounts and records.

This means if the annual return for the financial year 2017-2018 has been filed on 30-12-2018 then as per GST law, accounts and other records are to be maintained till 31.12.2024 (72 months from the due date of filing an annual return).

If any proceeding is undergoing to which the registered person is a party then such person shall retain the books of account and other records pertaining to the subject matter of such appeal or revision or proceedings or investigation for a period of 1 year after final disposal of such appeal or revision or proceedings or investigation, or for the period specified above, whichever is later.

Also Read: Audit provisions under GST Law


Editorial Staff at Yourfinancebook is a team of finance professionals. The team has more than a decade experience in taxation and personal finance.