Accounts and Record Rules under GST Finalised

Last Updated On: Feb. 9, 2020, 7:42 p.m.

The GST Council on the 16th Council Meeting has finalized the Accounts and Record Rules under GST. Download the Latest Account and Record Rules and Formats:

Accounts and Record Rules under GST

Accounts and Record Formats

Key Features of the Account and Refund Rules are as follows:

1. The requirement to maintain an activity-wise separate record deleted.

2. The requirement of maintaining commodity wise stock done away with.

3. Suppliers' names and complete addresses now required only where supplies are chargeable to tax.

4. Recipients names and addresses to be maintained only where required under these rules.

5. Books of account relating to additional places of business can be maintained at the principal place of business only.

6. Clerical mistake entries need not be scored under attestation.

7. Only manual books of account required to be serially numbered.

8. The requirement of maintaining separate accounts for each work contract done away with except payment received.

9. Manual Books to be kept at every additional place and digital books to be accessible at every related place.

10. Audit Trail, inter-linkages, data dictionary and explanation codes not required to be made available. Instead of files, their passwords with sample copy in print form required.

11. Transporter now required to additionally record the GSTIN of the registered consigner and consignee for each of his branches.

12. The format of ENR-01 also made available.

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