1. Important aspects in record keeping and documentation under GST
CA Shankara Narayanan V
GPVS & Associates
CA Shankara Narayanan V, Chennai

2. CA Shankara Narayanan V, Chennai
Documents under GST
Tax Invoice
For Goods
Continuous Supply of Goods
Others
For Service
Continuous Supply of Service
CA Shankara Narayanan V, Chennai

3. CA Shankara Narayanan V, Chennai
Documents under GST
Revised Invoice
Within One month
Prior period
Bill of Supply
CA Shankara Narayanan V, Chennai

4. CA Shankara Narayanan V, Chennai
Documents under GST
Receipt Voucher
Goods
Service
Refund Voucher
CA Shankara Narayanan V, Chennai

5. CA Shankara Narayanan V, Chennai
Documents under GST
Self Invoice
Sec 31 (3) (f)
Un-Registered
Payment Voucher
CA Shankara Narayanan V, Chennai

6. CA Shankara Narayanan V, Chennai
Documents under GST
Delivery Challan
Job Work
Supply
Others
CKD / SKD Scenarios
CA Shankara Narayanan V, Chennai

7. CA Shankara Narayanan V, Chennai
Documents under GST
Debit Note
Scenarios
Time Limit
GST impact
Interest Impact
CA Shankara Narayanan V, Chennai

8. CA Shankara Narayanan V, Chennai
Documents under GST
Credit Note
Scenarios
Time Limit
GST impact
Valuation / ITC Impact
CA Shankara Narayanan V, Chennai

9. Accounts & Records under GST
Advances
For Goods Advances
No Tax before GST
GST Applicable from 1st July 2017 to 14th Nov 2017
No Tax from 15th Nov 2017
CA Shankara Narayanan V, Chennai

10. Accounts & Records under GST
CA Shankara Narayanan V, Chennai

11. Accounts & Records under GST
S.NO
ACCOUNTS/RECORDS
INFROMATION REQUIRED
BY WHOM 1
Production or Manufacture of goods
Monthly Production accounts showing quantitative details of :
Raw materials or Services used in manufacture and
The goods so manufactured (including the waste and by products thereof)
Registered person Manufacturing goods 2
Services supplied
Accounts showing:
Quantitative details of goods used in the provision of services,
Details of input services utilized and
The services supplied
Registered person supplying Services
CA Shankara Narayanan V, Chennai

12. Accounts & Records under GST
S.NO
ACCOUNTS/RECORDS
INFROMATION REQUIRED
BY WHOM 3
Inward supply of goods or services (Purchase Register)
All the details of Inward Supply of Goods and Services made including the Name and Complete address of the Supplier
Registered person 4
Outward supply of goods or services (Sale Register)
All the details of Outward Supply of Goods and Services made including the Name and complete Address of the receiver wherever applicable
CA Shankara Narayanan V, Chennai

13. Accounts & Records under GST
S.NO
ACCOUNTS/ RECORDS
INFROMATION REQUIRED
BY WHOM 5
Stock of Goods
Accounts of Stock in respect of:
Goods received and Supplied by him (Refer Annexure - A)
Complete Address of the Premises where goods are stored by him including goods stored during transit along with the particulars of stock stored therein
Registered person other than a person opted for Composition Scheme u/s 10 6
Input Tax Credit Availed
Details of Input Tax Credit availed, Input Tax Credit claimed during a Tax Period (month-wise)
CA Shankara Narayanan V, Chennai

14. CA Shankara Narayanan V, Chennai
CA Shankara Narayanan V, Chennai

15. CA Shankara Narayanan V, Chennai
GST ITC Accounting
CA Shankara Narayanan V, Chennai

16. Accounts & Records under GST
S.NO
ACCOUNTS/ RECORDS
INFROMATION REQUIRED
BY WHOM 7
Output Tax Payable and Paid
Details of Output Tax Payable including Tax payable under Reverse Charge and actual Tax Paid
Registered person other than a person opted for Composition Scheme u/s 10 8
Import of Goods/Services
All the details of Goods or Services imported during the Tax Period
Registered person
CA Shankara Narayanan V, Chennai

17. Accounts & Records under GST
S.NO
ACCOUNTS/ RECORDS
INFROMATION REQUIRED
BY WHOM 9
Export of Goods/Services
All the details of Goods or Services exported during the Tax Period
Registered person 10
Inward Supplies attracting Reverse Charge
Details of Inward supplies on which Tax is payable on reverse charge basis along with relevant documents (such as Invoices, payment voucher)
CA Shankara Narayanan V, Chennai

18. Accounts & Records under GST
S.NO
ACCOUNTS/ RECORDS
INFROMATION REQUIRED
BY WHOM 11
Outward Supplies attracting Reverse Charge
Details of Outward supplies on which Tax is payable by the recipient of supply under reverse charge basis
Registered person 12
Advance received
Account of advances received by him and adjustments made thereto 13
Advance paid
Account of advances paid and adjustments made thereto
CA Shankara Narayanan V, Chennai

19. Accounts & Records under GST
S.NO
ACCOUNTS/ RECORDS
INFROMATION REQUIRED
BY WHOM 14
Works Contract
Details to be maintained as given in Annexure-B
Registered person executing works contract 15
Job Work Register
Details of Inputs/Capital Goods sent to Job Worker and received back (Refer Annexure-C)
Registered person sending Inputs/Capital Goods for Job work 16
Principal-Agent Records
Details to be maintained as given in Annexure-D
Agent as per section 2 (5)
CA Shankara Narayanan V, Chennai

20. CA Shankara Narayanan V, Chennai
Annexure-B (Details to be maintained for Works Contract Service)
Every registered person executing works contract shall keep separate accounts for works contract showing -
a) The names and addresses of the persons on whose behalf the works contract is executed;
b) Description, value and quantity (wherever applicable) of goods or services received for the execution of works contract;
c) Description, value and quantity (wherever applicable) of goods or services utilized in the execution of works contract;
d) The details of payment received in respect of each works contract; and
e) The names and addresses of suppliers from whom he received goods or services.
CA Shankara Narayanan V, Chennai

21. CA Shankara Narayanan V, Chennai
CA Shankara Narayanan V, Chennai

22. CA Shankara Narayanan V, Chennai
CA Shankara Narayanan V, Chennai

23. CA Shankara Narayanan V, Chennai
Annexure-D (Details to be maintained by an Agent)
Every agent shall maintain accounts depicting the:
a) Particulars of authorisation received by him from each principal to receive or supply goods or services on behalf of such principal
b) Particulars including description, value and quantity (wherever applicable) of goods or services received on behalf of every principal
c) Particulars including description, value and quantity (wherever applicable) of goods or services supplied on behalf of every principal
d) Details of accounts furnished to every principal and
e) Tax paid on receipts or on supply of goods or services effected on behalf of every principal.
CA Shankara Narayanan V, Chennai

24. Record Maintenance - Location
Principal Place of Business
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
CA Shankara Narayanan V, Chennai

25. Period of Record Maintenance
until the expiry of seventy two months from the due date of furnishing of annual return
appeal or revision or proceedings or investigation for a period of one year after final disposal
CA Shankara Narayanan V, Chennai

26. CA Shankara Narayanan V, Chennai
Thank you
CA Shankar Narayanan V
CA Shankara Narayanan V, Chennai