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CA Intermediate · Taxation · Accounts and Records

Under section 35 of the CGST Act, which of the following must a registered person who is a manufacturer specifically keep account of, in addition to production and inward and outward supply of goods?

A manufacturer must maintain accounts of production, inward and outward supplies and stock of goods, including raw materials, finished goods and waste or scrap, along with input tax credit availed and output tax payable and paid.

  1. AStock of goods, including raw materials, finished goods, and waste or scrapCorrect
  2. BOnly the personal expenses of the proprietor
  3. COnly the GST returns of suppliers
  4. DOnly the bank statements of customers

Explanation

Section 35 requires accounts of production or manufacture, inward and outward supply, stock of goods, input tax credit availed, output tax payable and paid, and other prescribed particulars. Stock records, including raw materials, finished goods and scrap, are therefore required.

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