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CA Intermediate · Taxation · Accounts and Records

Gupta Steels, a registered person in Raipur, has an aggregate turnover of Rs 4 crore and is a regular taxpayer. It manufactures goods. Which of the following records is it specifically required to maintain under section 35 of the CGST Act, 2017 in addition to production and stock records?

A registered person must maintain records of production or manufacture, inward and outward supplies, stock of goods, input tax credit availed, output tax payable and paid, and other prescribed particulars. Keeping only sales invoices or e-way bills is insufficient under section 35.

  1. ARecords of inward and outward supply of goods or services, stock of goods, input tax credit availed, output tax payable and paid, and other prescribed particularsCorrect
  2. BOnly a cash book and a ledger of the proprietor's personal expenses
  3. COnly outward supply invoices; inward supplies need not be recorded
  4. DOnly the e-way bills generated during the year

Explanation

Section 35 requires production or manufacture of goods, inward and outward supply, stock, ITC availed, output tax payable and paid, and other prescribed particulars to be recorded. The other options record only a part or irrelevant items, so they do not satisfy the section.

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