GST India Solution

Ask a Query

Client Login

Welcome GST India Solution

39 : Accounts M.P. ACT

CHAPTER VIII

Accounts and Issue of Acts,

Invoice or cash memoranda

39 : Accounts

(1) Every registered dealer and every dealer liable to pay tax under this Act shall maintain

correct account of his purchases, sales and stocks showing value, of different kinds of goods

subject to different rates of tax under this Act.

(2) 2Every dealer whose turnover in a year exceeds rupees sixty lacs- w e f 10.8.10 [forty

lacs- upto 9.8.10] shall get his account audited by a Chartered Accountant and furnish the

report of such audit in such manner and within such time as may be prescribed. 2

3/4Provided that a dealer who is an industrial unit having annual turnover of upto ten

crore rupees may get his accounts audited by a member of Institute of Cost and works

Accountants of India.

(3) If the Commissioner considers that the accounts maintained by any dealer or any class

of dealers do not sufficiently enable him to verify the returns referred to in sub-section (1) of

Section 18 or the assessment cannot be made on the basis thereof, he may by an order,

require any dealer or by notification any class of dealers, to keep such accounts including

records of manufacture, sales, purchases or transfers in such form and in such manner as

he may, subject to rules made under this Act, direct.

(4) If the Commissioner considers that any class of dealers are not in a position to maintain

accounts in accordance with the provisions of sub-section (1), he may, for reasons to be

recorded in writing, exempt such class of dealers from the operation of the provisions of the

said sub-section.

20(5) If a registered dealer fails to furnish the report as required under sub-section 23. (2) in

respect of a year within the time prescribed, the commissioner may, after giving such dealer

an opportunity of being heard, direct him to pay by way of penalty a sum equal to 0.1 percent

of the turnover in the year or rupees ten thousand, whichever is less.

GST RATES FINDER GST ACTS BOOK (DECODING GST) GST RULES GST PROVISIONAL REGISTRATION MODEL GST LAW LEVY OF TAX

Latest Articles

<--

WHAT IS GST?

GST i.e.Goods and Service Tax is a unified tax that replaces several indirect taxesleviedby the Central Government and the State Government(s)....

-->

BASIS OF CHARGE OF GST- SUPPLY

In pre-GST regime, goodswere liable to: (i) Excise Duty- on manufacture of goods; (ii) VAT/CST- on sale of goods; (iii) Entry tax- on ...

WHO IS LIABLE TO PAY TAX

GST is levied on every taxable person. Taxable person means a person who carries on any business at any place in India. Such . ..

WHAT IS TAXED UNDER GST

GST is a unified tax which is levied on: (i) goods; (ii) services and (iii) a mix of goods and/or services. Any supply of goods or services . .. ...

Who We Are

GST India Solution is an effort of firm of professionals who welcome implementation of GST. This is an interactiveplatformthat aspires to disseminate right knowledge to professionals, practitioners and public at large. This platform has beenfloatedbya firm of Chartered Accountants relentlessly working in field of direct and indirect taxes since early 1985.

Goods & Service Tax

Our core competence is statutory compliance, advisory, corporate tax planning and appellate matters of direct and indirect taxesandcorporate training sessions on GST.

The senior partner of the firm has to his credit several professional publications viz., Delhi Sales Tax Right to Use Goods Act, Delhi VAT, Maharashtra VAT, West Bengal VAT, Haryana VAT published by Taxmann. Madhya Pradesh VAT and Chhattisgarh VAT were published by Suvidha Law House, Bhopal. He has also addressed seminars on indirect taxes organized by professional bodies like ICAI, IMA, NIFM etc. and has also contributed articles on subjects of pro. . . . .