Question: For accounts and records to be maintained under GST law by the manufacturers and service providers it has been clearly mentioned that inward/outward supply of goods has to be maintained in quantity and in value. But in the case of normal traders, words “quantity and value” has not been specified anywhere. So, if in case of traders, I am only maintaining the records in value, whether I am committing any default. Similarly, in portal we have to give HSN wise details but nowhere it is mentioned that the quantity and value has to be maintained HSN code wise. So, is the portal asking what is not written in the law?
Answer: Section 35 requires every registered person to maintain a true and correct account of inward and outward supply of goods or services or both and stock of goods. There is no distinction made for any class of registered persons in the section. rule 56 in addition to the records provided under section 35, prescribes for maintenance of accounts of stock in respect of goods received and supplied and such accounts shall contain particulars of the opening balance, receipt, supply, goods lost, stolen, destroyed, written off or disposed of by way of gift or free sample and the balance of stock including raw materials, finished goods, scrap and wastage thereof and thus, such record is applicable to all and is not possible without maintenance of quantity details.
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