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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Jammu & Kashmir GST Act Requires Accurate Business Records, Allows Electronic Maintenance, and Mandates Audits for High Turnover.</h1> Every registered person under the Jammu and Kashmir Goods and Services Tax Act, 2017, must maintain accurate accounts at their principal business location, including details on production, supply, stock, tax credits, and tax payments. If multiple business locations are registered, records must be kept at each site. Records can be maintained electronically. Warehouse operators and transporters must keep records of goods, regardless of registration status. The Commissioner can mandate additional records for certain taxable persons or allow exceptions. Businesses surpassing a turnover threshold must have their accounts audited. Non-compliance may lead to tax determination by authorities.
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