CBEC explains Accounts and Records provisions which cast responsibility on owner, operator of warehouse or godown or any other place used for storage of goods and every transporter to maintain specified records for a period of 6 years from due date of furnishing annual return for relevant year.
These records include true and correct account of –
- production / manufacture of goods
- inward and outward supply of goods / services
- stock of goods
- ITC availed
- output tax payable and paid, and
- such other particulars as may be prescribed.
In addition, Accounts & Records Rules require registered person to keep and maintain records of
- goods or services imported or exported, or
- supplies attracting payment of tax on reverse charge along with the relevant documents, including invoices, bills of supply, delivery challans, credit notes, debit notes, receipt vouchers, payment vouchers, refund vouchers and e-way bills.
In case more than one place of business is specified in certificate of registration, accounts relating to each place of business shall be kept at such places of business. Any entry in registers, accounts and documents shall not be erased, effaced or overwritten and all incorrect entries, other than those of clerical nature, shall be scored out under attestation and thereafter correct entry shall be recorded.
Where the registers and other documents are maintained electronically, a log of every entry edited or deleted shall be maintained.