What happen if Books not maintained under GST

By | November 3, 2017
(Last Updated On: November 3, 2017)

Books not maintained under GST

What happens for not maintaining books of account under GST for Goods and Services Supplied?

where the registered person fails to account for the goods and/or services in accordance with Section 35(1), the proper officer shall determine the amount of tax payable on the goods and/or services that are not accounted for, as if such goods and/or services had been supplied by such person, and the provisions of Sections 73 or Section 74 (Demand related provisions), as the case may be, shall apply, mutatis mutandis, for determination of such tax.[ Section 35 (6) of CGST Act ]

Note: · Under section 17(5)(h), input tax credit shall not be available in respect of goods lost, stolen, destroyed, written off or disposed of by way of gift or free samples and

 

Related GST Video Tutorials

Download TaxHeal Mobile App

Related Topic on GST 

TopicClick Link
GST Acts Central GST Act and States GST Acts
GST RulesGST Rules
 GST FormsGST Forms
GST RatesGST Rates
GST NotificationsGST Act Notifications
GST CircularsGST Circulars
 GST JudgmentsGST Judgments
GST Press ReleaseGST Press Release
GST BooksBest Books on GST in India
GST CommentaryTopic wise Commentary on GST Act of India
GST You Tube ChannelTaxHeal You Tube Channel
GST Online CourseJoin GST online Course
GST HistoryGST History and Background Material

 

Leave a Reply

Your email address will not be published.