RG-1 (Daily Stock Account) is applicable on GST

[Rajan Rajan]

Dear All,

Whether RG-1 (Daily Stock Account) is applicable on GST regime.

[Ganeshan Kalyani]

The said register is not required but the content as available in the register suffice the detail that are prescribed under accounts and records rules under GST.

[KASTURI SETHI]

RG.1 register was dispensed with in year 2000. Now also proper accountal of the goods to be supplied is required as opined by Sh.Ganeshan Kalyani, Sir.

[MUKUND THAKKAR]

under existence rules 10. daily stock account .

majority under standing is RG-1.

[KASTURI SETHI]

Sh. Mukund Thakkar Ji,. Yes Sir. You have rightly observed.

AI Summary

Daily stock account may not be required under GST but equivalent accounts and records must be maintained. The RG-1 register itself is not required under GST, but the substantive information formerly recorded in RG-1 must be maintained through the accounts and records rules; the specific register format is dispensed with, yet proper daily stock/accountal detail remains an obligation under existing record keeping rules.