CA Final · Indirect Tax Laws · Accounts and Records; E-way Bill
Mehta Exports LLP stores its accounts in a customised accounting package that uses internal codes for ledgers and items. On demand by the proper officer, which set of items must it provide under the CGST Rules, 2017 provisions on records stored electronically?
On demand, the person must provide details of the files, passwords of the files, an explanation for codes used where necessary for access, any other information required for such access, and a sample copy in print form of the information stored in those files.
- ADetails of the files, passwords of the files and explanation for codes used where necessary for access, any other information required for such access, and a sample print copy of the stored informationCorrect
- BOnly a sample print copy of the information, with no details of codes or passwords
- COnly the passwords, since explanations of codes are not required by the Rules
- DA complete printed copy of all records for the last five financial years, without any codes or passwords
Explanation
Where accounts and records are stored electronically, the person must on demand provide details of the files, passwords, explanation of codes where necessary for access, any other information needed for such access, and a sample copy in print form of the stored information. Providing only passwords or only a print sample is incomplete, and no five-year full printout is prescribed.
Did you get it right without looking?
One question tells you little. A timed set on Accounts and Records; E-way Bill shows your real accuracy, how long you take and where you lose marks.
More Accounts and Records; E-way Bill questions
- Ganga Traders, a registered person, loses its electronic accounting data in a fire. It had kept a back-up only on a pen drive in the same of…
- Himalaya Auto Components Ltd stores its accounts in password-protected files created with an in-house accounting tool that uses internal sho…
- Ruchi Garments, a registered person, receives a demand from the proper officer for its electronic sales ledger. Its accountant says that giv…
- During an inspection at the premises of Kaveri Traders, a registered person who stores accounts electronically, the proper officer demands t…
- Sundaram Textiles Pvt Ltd, a registered person in Coimbatore, keeps all its books of account on a cloud-based accounting system. A server cr…
- Sunrise Textiles Pvt Ltd, a registered person in Surat, keeps its accounts and records in electronic form. During a visit, the proper office…