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CA Final · Indirect Tax Laws · Accounts and Records; E-way Bill

Himalaya Auto Components Ltd stores its accounts in password-protected files created with an in-house accounting tool that uses internal short codes for ledger heads. The proper officer demands access to these files. Under the CGST Rules, 2017, which set of items must the company provide on demand?

The company must give, on demand, details of the files, their passwords, an explanation of codes used where necessary, any other information required for access, and a sample copy in print form of the information stored in the files. Passwords alone are insufficient.

  1. AOnly a hard copy of the final annual financial statements
  2. BOnly the software licence and the auditor's report
  3. CDetails of such files, passwords of such files, explanation for codes used where necessary, and other information required for access, along with a sample print copy of the information stored in the filesCorrect
  4. DPasswords alone, as codes and print samples are not covered

Explanation

Where accounts are stored electronically, the person must on demand give details of the files, passwords, explanation for codes used where necessary, any other information needed for access, and a sample print copy. Option D is incomplete because it omits the other items. Annual statements or licences are not what the rule specifies.

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