Nov 152018

Auidt under GST: person covered and annual return to be furnished

Meaning of Audit in GST:

The definition of Audit given in Section 2(13) of Central Goods and Services Tax Act, 2017(CGST Act) as “audit means the examination of records, returns and other documents maintained or furnished by the registered person under this Act or the rules made thereunder or under any other law for the time being in force to verify the correctness of turnover declared, taxes paid, refund claimed and input tax credit availed, and to assess his compliance with the provisions of this Act or the rules made there under.”

As per Rule 80(3) of the CGST Rules “every registered person whose aggregate turnover during a financial year exceeds two crore rupees shall get his accounts audited as specified under sub-section (5) of section 35 and he shall furnish a copy of the audited annual accounts and a reconciliation statement, duly certified, in GSTR 9C, electronically through the common portal either directly or through a Facilitation Centre notified by the Commissioner”.

Thus, the entire compliance of GST law has to be confirmed in GST audit.

What are the outcomes of GST audit:

According to section 35(5) “every registered person whose turnover during a financial year exceeds the prescribed limit shall get his accounts audited by a chartered accountant or a cost accountant and shall Submit:

  • A copy of the audited annual accounts,
  • The reconciliation statement under sub-section (2) of section 44 and
  • Such other documents in such form and manner as may be prescribed”.

According to section 44(2) “every registered person who is required to get his accounts audited in accordance with section 35(5) shall furnish, electronically:

  • The annual return under sub-section (1) along with
  • A copy of the audited annual accounts and
  • A reconciliation statement, reconciling the value of supplies declared in the return furnished for the financial year with the audited annual financial statement, and
  • Such other particulars as may be prescribed”.

Whether for the first financial year, i.e., 2017-18, aggregate turnover of 9 months shall be taken for considering the application of audit provision to the auditee?

For the financial year 2017-18, the GST period comprises of 9 months whereas the relevant section 35(5) uses the expression financial year.

Therefore, in the absence of clarification from government, also to avoid any cases of default, it is reasonable to understand that to reckon the turnover limits prescribed for audit i.e., Rs. 2 crores one has to reckon the turnovers for the whole of the financial year which would also include the first quarter of the financial year 2017-18.

What are the documents required to be furnished annually after audit being carried out?

  1. Annual Return;
  2. Copy of the audited annual accounts;
  3. Reconciliation statement, reconciling the value of supplies declared in the return furnished for the financial year with the audited annual financial statement in FORM GSTR 9C, duly certified;
  4. Such other particulars, as may be prescribed
Nov 132018

Exemptions for charitable trust : GST

Exemptions available to charitable trust:

Exemption from Section / NN Summary of exemption
Income Tax Section 11 and Section 13 Complete exemption of income from tax net
GST NN 12/2017 Central Tax (Rate)

NN 9/2017 Integrated Tax (Rate)

Specific exemption:

1.     Health services

2.     Educational services

3.     Religious services

General exemption:

services by an entity registered under Section 12AA of the Income-tax Act, 1961 by way of charitable activities

Here an attempt being made to combined study the effect to above exemption:

  1. Since Under GST only registration under income tax enough to avail the benefit of exemption and in income tax act registration under section 12AA clubbed with certain other condition are critical requirement to avail total exemption. Hence there may be situation where income of charitable trust is taxed with no GST is payable by them.
  2. Charitable organization prior to 01/04/1997 is registered under section 12A of income tax act and hence such organization may face problem in availing exemption under GST regime.
  3. Since income tax provide exemption on assessment year basis, i.e., situation that exist at the end of relevant previous year and GST levy based on situation exist at the time of supply of services and hence there may be situation where in the same year exemption is available in GST but no exemption in income tax and vise versa. Such situation will occur on 1st year of registration or year of cancellation of registration under income tax act.
  4. Under GST regime a charitable organization should involved in charitable activity. That means a trust registered under section 12AA of income act must also engaged in charitable activities as specified in GST regime. Thus, coverage of organization under GST regime is restrictive and full of various open ended and undefined terms.

The effect of above it may be concluded that while a trust is availing benefit of income tax exemption may not avail benefit of GST exemption in certain cases. The relevant clauses are reproduce below for the sake of comparison:

Charitable activities under GST:

GST Exemption Notification in para 2 (r) defines “charitable activities” to mean activities relating to –

  • public health by way of ,-
    • care or counselling of
      • terminally ill persons or persons with severe physical or mental disability;
      • persons afflicted with HIV or AIDS; (III)persons addicted to a dependence-forming substance such as narcotics drugs or alcohol; or
    • public awareness of preventive health, family planning or prevention of HIV infection;
  • advancement of religion , spirituality or yoga
  • advancement of educational programmes or skill development relating to,-
  • abandoned, orphaned or homeless children;
  • physically or mentally abused and traumatized persons;
  • prisoners; or
  • persons over the age of 65 years residing in a rural area;
  • preservation of environment including watershed, forests and wildlife.

Aug 272018

Review of GST Input Tax Credit Claim

Why there is need for review of ITC claim:

Since the rules for claiming ITC are neo for everyone including tax consultants and hence it can be understood that there could be:

  • Errors of understanding,
  • System errors and
  • Transactional mistakes

Thus, for every taxable person there is last chance to ensure total reconciliation and proper availment is carryout before filing September 2018 return.

Special focus point in review of ITC claim:

  • Transaction not entered in accounting records at all:
    1. Stock transfers to different states
    2. Agent principle supply
    3. Supply to related party without consideration / inadequate consideration
    4. Liability under reverse charge
    5. Identification of Barter activities
    6. In the same line identification of non-monetary consideration in any exchange transaction, which leads to revision of valuation

Since no records for above transaction is available in normal book of accounts and accounting trail and hence special focus must be adopted on these transaction to avoid under booking and under payment of liability.

  • Review of ITC on transaction entered in books of accounts:
    1. Procurement policy to ensure that vendor had paid taxes on invoice
    2. Invoice must have properly indicated and value of taxes paid
    3. All major inputs, capital goods and services needs to be review to ensure that anything on which credit have been taken is not blocked under the act
    4. Ensure source of procurement must be from registered vendor
    5. Whether ITC is taken only after receipt of goods and /or services
    6. Whether GST liability under RCM is actually paid to avoid payment of irrevocable interest.
    7. Ensure that the tax paid on purchases returns on GST invoice is equal to credit on inputs
    8. In case of capitalization of expenses ensure whether ineligible credits exist or eligible credits are not availed
    9. Confirm whether all vendor payments being made within 180 days: There is a time limit for payment to vendors within 180- days. If it exceeds, ITC needs to be reversed with interest, however an amendment for without interest reversal has been proposed for amendment in the CGST Bill. On payment to the vendor is made, the credit can be claimed back.
    10. Review the discount given / taken and debit notes and credit notes
    11. ITC credit is not available for personal transactions
    12. Review of various returns filed under GST such as GSTR 1 and GSTR 3B and identification of differences in ITC if any, between GSTR 3B and GSTR 2A.
    13. Reivew of ratios like credit availed and utilised to total GST, ITC/ Total purchases and expenses

The above are few focus areas of ITC review which must be done before the end of every financial year to ensure that any wrong credit availed must be reversed to avoid future legal tangle.

Aug 232018

Key features of New GST Quarterly Returns

  1. Quarterly filing and monthly payments:

It is proposed to provide facility for filing of quarterly return to small taxpayers, who had a turnover upto Rs. 5 Cr. in the last financial year.

  1. Meaning of turnover for filing of return:

Turnover of the taxpayer shall be calculated based on the reported turnover in the last year i.e. 2017-18, annualized for the full year.

It shall be possible for the taxpayer to check on the common portal whether he falls in the category of a small taxpayer.

A newly registered taxpayer shall be classified on the basis of self-declaration of the estimated turnover.

However, they would still need to pay their taxes on monthly basis and avail input tax credit on self-declaration basis to pay the monthly taxes.

  1. Quarterly or monthly return:

Option for filing monthly or quarterly return shall be taken from these small taxpayers at the beginning of the year and generally thereafter they would continue to file the return during the year as per the option selected.

During the course of the year option to change from monthly to quarterly or vice-versa shall be allowed only once and at the beginning of any quarter.

  1. Options in quarterly return:

Small taxpayers having turnover upto Rs. 5 Cr. would have option to file one of three forms, namely –

  1. Quarterly return,
  2. Sahaj or
  3. Sugam

Quarterly return shall be akin to the monthly except that it has been simplified and shall not have the compliance requirement in relation to –

  • Missing and pending invoices as small taxpayers do not use these procedures in their inventory
  • Supplies such as non-GST supply, exempted supply etc as they do not create any liability.
  • The details of input tax credit on capital goods credit shall also not be required to be filled.

This information shall be required to be filled in the Annual Return. Small taxpayers who would like to facility of missing and pending invoice may file monthly return.

  1. Quarterly Return:

Option to create profile in the quarterly return shall also be available.

Sahaj and Sugam are predetermined profiles of the quarterly return.

  1. Sahaj and Sugam Returns:

Small taxpayers often have purchases only from the domestic market and sales in the domestic market i.e B2B purchases locally and supplies either as B2C or B2B+B2C.

They constitute a very large part of the tax base and therefore two simplified quarterly returns are proposed for them respectively.

They have been named as “Sahaj” (only B2C outward supplies) and “Sugam” (both B2B and B2C outward supplies).

  1. Uploading of invoices:

The recipients from these small taxpayers would need uploaded invoice for availing input tax credit and therefore the small taxpayers would be given facility to continuously upload invoices in the normal course.

The invoices uploaded by 10th of the following month would be available as input tax credit to the recipient in the next month as is the case in case of purchases from large taxpayers.

  1. Payment declaration form for payment of monthly taxes:

These small taxpayers would continue to pay taxes on monthly basis and in the first and second month of every quarter, they would use a payment declaration form to make the payment.

In the payment declaration form, self-assessed liability and input tax credit on self-declared basis shall be declared.

To assist in tax payment and availing input tax credit, necessary liability arising out of uploaded invoices of outward liability and input tax credit flowing from viewing facility would be shown to the taxpayer.

The payment declaration form shall only allow full payment of the liability arising out of uploaded invoices.

Late payment of tax liability including that in first and second month of the quarter shall attract interest liability.

  1. Lower compliance cost:

The benefit of this simplification would be that the compliance cost for small taxpayers would come down as payment declaration form is not a return and minor errors in the same would not lead to initiation of any legal action.

  1. Pending and missing invoices:

Small businesses have only a few supplies to receive and therefore they track their purchases well and may not need credit on missing invoices. Therefore quarterly return shall not have the compliance requirement of missing and pending invoices as small businesses do not use these procedures in their inventory management.

Aug 022018

Tax payable on purchase from an unregistered dealer

In GST if you are a registered dealer and you are purchasing goods from a unregistered dealer in that case registered dealer have to pay GST (Goods and Service Tax or tax) and selling unregistered dealer is not liable to pay tax.

Under section 9(4) registered dealer will have to pay tax at the time of purchasing the goods from an unregistered dealer and this is commonly known as reverse application of tax or RCM.

For example, there is a large company and the company is registered with GSTN and this company is purchasing goods from an unregistered person  for example, petty expenses like tea etc. from the tea vendor or office stationary for an office then register company is only liable to pay tax on that petty expense

How to make payment of taxes in case of RCM (Reverse charge mechanism):

The payment of taxes can be made under GST out of two types of ledger:

  1. Electronic Credit ledger: This ledger gets credit with the taxable supplies received by the registered taxable person each time purchase tax invoice are updated by registered dealer.
  2. Electronic Cash ledger: This ledger gets credits with the taxes paid in cash / banking channel through challan.

Registered person purchasing goods from unregistered person can not pay tax under RCM using credit ledger. He have to pay RCM liability in cash and immediately take ITC of such taxes paid if the procurement so made is eligible for input tax credit.


Unregistered dealer cannot make invoice (means tax invoice). However, he can pass on the commercial invoice to registered dealer.

On receipt of goods registered person shall make another invoice (tax invoice) based on commercial invoice issued by registered dealer as if he himself is supplying good to him. This means in such special case it shall be presumed that such registered supplier supplies goods / services to himself.

Blockage of working capital:

There is a time limit of one month approximately for availing ITC of GST paid in cash under reverse charge mechanism. Thus, there is blockage of working capital to that extent.


A big relief is given by government to the assessee. There is a limit of Rs. 5000 per day per unregistered supplier for applicability of RCM. Thus, this is big relief to small tea vendors and dhaba walas which supplies in small quantities valuing rupees five thousand or less.

However, once the limit of five thousand is crossed for any unregistered vendor GST would be payable on total value including rupees five thousand for supplies made from that particular vendor.

Another relief is given by government is that the tax liability under RCM for supplies made from unregistered dealer is now suspended till sept., 2018 as of now.

Aug 012018

Important aspects of E-way bill

Generation of E-way bill:

  1. In cases of outward supply returns (sales returns), the customer or the transporter shall be the person causing the movement of goods and hence shall be responsible to generate the e-Way bill.
  2. In case of high sea sales, since the supply is effected before the goods cross the customs frontiers, an e-Way bill is not required. However, the ultimate buyer will be required to generate an e-Way bill (if the consignment value exceeds Rs. 50,000) to move goods from the port to the place of business.
  3. In case a customer is purchasing and moving the goods himself and the value exceeds Rs. 50,000/-, an e-Way bill can be generated by the taxpayer or supplier based on the invoice issued to him. The customer may also enroll as a citizen and generate the e-Way bill himself.
  4. In case the consignee or recipient refuse to take the delivery of goods, the transporter can get one more e-Way bill generated with the help of the supplier/recipient by indicating the supplies as sales return with relevant document.
  5. If the individual bills are less than Rs. 50,000/- but the total value of goods in a conveyance exceed Rs. 50,000/- the transporter shall be responsible / liable to raise an e-Way bill since the individual parties will not be liable to generate an e-Way bill.

Processing of E-way bills:

  1. If a person has more than one registered place of business, he can create sub users for a particular place of business place and generate the e-Way bill with that business location as the place of dispatch.
  1. This helps when there are multiple places of business and goods are moved from each of those premises.
  2. A maximum of 3 sub users can be created for every additional place of business.
    1. If the selected transporter denies carrying goods, or goods are not transported or transported in the manner specified, the e-Way bill should be cancelled within 24 Hours.
  3. If 24 hours have elapsed, then the other party (supplier/recipient) must be requested to cancel the e-Way bill within 72 hours.
    1. Even if there are multiple invoices belonging to the same consignor and consignee, separate and multiple EWB’s shall be generated.
  4. Multiple invoices cannot be clubbed to generate one e-Way bill.
  5. Multiple EWB’s can be clubbed into one consolidated e-Way bill if the goods are being moved in a single conveyance.
    1. Where the goods are transported from one conveyance to another then the details of conveyance in the E-Way bill in Part B should be updated. The authorized transporter can assign the e-Way bill to any enrolled or registered transporter for further transportation. The new transporter can alone update PART-B.
    2. PART-B has to be updated each time the vehicle changes in the case of multimodal transport.

Value for generation of E-way bills:

  1. The value in e-Way bill in case goods are sent on lease basis will be the value of goods and not the lease charges.
  2. The consignment value shall be only the value of the goods being moved and shall not include any service element.
  • The HSN codes of only the goods shall be specified and not of the services in the invoice. If the services are integral part of supply of goods then the value of services shall be merged with value of goods.

Jul 262018

Change of Email ID and mobile nos in GSTN

Significance of E-mail ID and phone number in GSTN:

E-mail ID and mobile nos. are media to communicate with GSTN instantly for different purposes. These are required for the following purposes:

  1. At the time of registration to generate TRN and GST user ID and first time login password
  2. At the time of filling GST return
  3. At the time submitting query, complaints etc
  4. At the time of cancellation
  5. To receive orders etc

Thus, e-mail ID and mobile number is required at every time while doing work with GSTN.

Change of email and mobile number of the authorized signatory by taxpayers with assistance from the jurisdictional tax officer:

Complaints are being received from taxpayers that the intermediaries who were authorized by them to apply for registration on their behalf had used their own email and mobile number during the process. They are now not sharing the user credentials with the taxpayer on whose behalf they had done the registration in the first place and the taxpayer is at their mercy.

With a view to address this difficulty of the taxpayer, a functionality to update email and mobile number of the authorized signatory is available in the GST System.

The email and mobile number can be updated by the concerned Jurisdictional tax authority of the taxpayer as per the following procedure:

  1. Taxpayer is required to approach the concerned jurisdictional Tax Officer to get the password for the GSTIN allotted to the business.
  2. Taxpayer would be required to provide valid documents to the tax officer as proof of his/her identity and to validate the business details related to his GSTIN.
  3. Tax officer will check if the said person is added as a Stakeholder or Authorized Signatory for that GSTIN in the system.
  4. Tax officer will upload necessary proof on the GST Portal in support to authenticate the activity.
  5. Tax officer will enter the new email address and mobile phone number provided by the Taxpayer.
  6. After upload of document, Tax officer will reset the password for the GSTIN in the system.
  7. Username and Temporary password reset will be communicated to the email address as entered by the Tax Officer.
  8. Taxpayer need to login on GST Portal using the First time login link.
  9. After first time login with the Username and Temporary password that was emailed to him, system would prompt the taxpayer to change username and password. The said username and password can now be used by the taxpayer.
Jul 252018

Non applicability of Section 44AD in certain cases

Substituted by the Finance Act, 2016, w.e.f. 1-4-2017 [Subsection 4 of section


Where an eligible assessee declares profit for any previous year in accordance with the provisions of this section and he declares profit for any of the five assessment years relevant to the previous year succeeding such previous year not in accordance with the provisions of sub-section (1), he shall not be eligible to claim the benefit of the provisions of this section for five assessment years subsequent to the assessment year relevant to the previous year in which the profit has not been declared in accordance with the provisions of sub-section (1).

Analysis of the above provision:

Provision Analysis Example
Previous year: Eligible assessee declared profit under presumptive scheme. That means in the previous year assess ascertain his profit @ 6% / 8% of gross sales as the case may be. Take current previous year as example: Previous year : 2018-19
For next five assessment years: in any such assessment year he declares profits not in accordance with this provision. After previous year, in any one out of next five years he declares his profit as per normal calculation, i.e., as per his profit and loss account. 1st AY after PY 2018-19.      is 2020-21

2nd AY after PY 2018-19.   is 2021-22

3rd AY after PY 2018-19.    is 2022-23

4th AY after PY 2018-19.    is 2023-24

5th AY after PY 2018-19.    is 2024-25


In any one the above assessment years he declares profit as per his profit and loss account.

Result: He shall not be eligible to claim the benefit of the provisions of this section for five subsequent assessment years Thus, the assessee under consideration shall not be eligible to claim benefit of above provision for next five assessment years from the assessment year in which he has not claim profit as per section 44AD. Let suppose he has not claim profit for AY 2023-24 as per section 44AD. Now from AY 2024-25 to 2028-29 he is not eligible for section 44AD benefit. He shall have to claim profit as per normal computation.


Explanatory notes to the above provision:

It has been further provided that where an eligible assessee declares profit for any previous year in accordance with the provisions of this section and he declares profit for any of the five consecutive assessment years relevant to the previous year succeeding such previous year not in accordance with the provisions of this section, he shall not be eligible to claim the benefit of the provisions of this section for five assessment years subsequent to the assessment year relevant to the previous year in which the profit has not been declared in accordance with the provisions of this section.

Case study:

An eligible assessee claims to be taxed on presumptive basis under section 44AD for Assessment Year 2017-18 and offers income of Rs. 8 lakh on the turnover of Rs. 1 crore. For Assessment Year 2018-19 and Assessment Year 2019-20 also he offers income in accordance with the provisions of section 44AD. However, for Assessment Year 2020-21, he offers income of Rs.4 lakh on turnover of Rs. 1 crore.

In this case since he has not offered income in accordance with the provisions of section 44AD for five consecutive assessment years, after Assessment Year 2017-18, he will not be eligible to claim the benefit of section 44AD for next five assessment years i.e. from Assessment Year 2021-22 to 2025-26.


Thus, now as per above provision an assessee is bound to claim 44AD benefit for at-least 5 consecutive assessment year. If he does not do so in any one assessment year is not eligible for benefit for next five years.

Jul 242018

Types of discounts and its role in GST

Meaning of discount under GST:

Discounts means a reduction made from the gross amount or value of something: such as, a reduction made from a regular or list price offering customers a ten percent discount or buy tickets at a discount. A proportionate deduction from a debt account usually made for cash or prompt payment or a deduction made for interest in advancing money upon or purchasing a bill or note not due

There are many types of Discount: like cash discount, quality discount, quantity discount and performance discount.

If one registered dealer purchase or sale goods from another register dealer and he is giving discount on value of goods and / or services supplied then there may be different implications of such discounts based on manner of calculating it.

Role of discount while calculating GST:

Value of taxable supply – Section 15 of CGST Act: Sub – section (3) The value of the supply shall not include any discount which is given––

  1. before or at the time of the supply if such discount has been duly recorded in the invoice issued in respect of such supply; and
  2. after the supply has been effected, if—
    1. such discount is established in terms of an agreement entered into at or before the time of such supply and specifically linked to relevant invoices; and
    2. input tax credit as is attributable to the discount on the basis of document issued by the supplier has been reversed by the recipient of the supply

Case study:

One registered garments dealers selling Shirt to their consumer for Rs.1000 and the consumer is asking for discount on that shirt. The dealer said 30% on price. The price of shirt is Rs.1000 and now he is giving discount of Rs. 300. Now the price of the shirt is going to be 700 only and the dealer will make a invoice of Rs.700 only. the discount is adjusted at the time preparing discount. And the dealer will have to pay GST and purchasing dealer is eligible to take input tax credit only on invoice amount of Rs. 700.

Comparative analysis of different types of discount:

Types of discount Cash Discount Quality Discount Quantity discount Performance Discount
Meaning This discount is given for purchases made in cash. Discount given for inferior quality of material supplied. Discount given for purchases made in large numbers. Discount given for achieving sales targets.
Abbreviation CD Rate Discount
Manner of adjustment in invoice Discount is shown after total value of material sold is calculated but before calculating GST. Not shown is invoice. Item rates itself is adjusted with value of discount. Shown in invoice with each items of invoice after rate per unit. Rate per unit is adjusted with this discount. Not shown in invoice as it is calculated after sale is performed.
When calculated At the time of receiving cash. Before preparing tax invoice. At the time preparing tax invoice. At the end of each performance period.
Implication on GST GST will be paid. In case Same is declared at the time of invoice preparation GST needs to be adjusted by way of debit / credit notes. GST need not to be paid. GST need not to be paid. GST will be paid. In case Same is declared at the time of invoice preparation GST needs to be adjusted by way of debit / credit notes.


Jul 232018

Book of Accounts under GST

Accounts and Records to be maintained under GST – Section 35 of CGST Act:

Every registered person shall keep and maintain, at his principal place of business, as mentioned in the certificate of registration, a true and correct account of—

  1. production or manufacture of goods;
  2. inward and outward supply of goods or services or both;
  3. stock of goods – containing 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
  4. input tax credit availed;
  5. output tax payable and paid; and, i.e.,
    1. tax collected and paid
    2. input tax
    3. Register of tax invoices
    4. Delivery challan issued or received during any tax period
  6. such other particulars as may be prescribed:
    1. goods or services imported or exported or of supplies attracting payment of tax on reverse charge along with the relevant documents
    2. Invoices
    3. Bills of supplies
    4. Delivery challans
    5. Credit notes
    6. Debits notes
    7. Receipt vouchers
    8. Payment vouchers
    9. Refund vouchers
  7. Account of advances received, paid and adjustments made thereto.

Provided that where more than one place of business is specified in the certificate of registration, the accounts relating to each place of business shall be kept at such places of business:

Provided further that the registered person may keep and maintain such accounts and other particulars in electronic form in such manner as may be prescribed.

Every registered person shall keep the particulars of –

  1. names and complete addresses of suppliers from whom he has received the goods or services chargeable to tax under the Act;
  2. names and complete addresses of the persons to whom he has supplied goods or services, where required under the provisions of this Chapter;
  3. the complete address of the premises where goods are stored by him, including goods stored during transit along with the particulars of the stock stored therein.

Period to retention of books of accounts – Section 36 of CGSST Act:

Every registered person required to keep and maintain books of account or other records in accordance with the provisions of sub-section (1) of section 35 shall retain them until the expiry of seventy-two months from the due date of furnishing of annual return for the year pertaining to such accounts and records.

Due date of filling annual return is 31st December next to the end of relevant assessment year. This means 9 month from the end of relevant financial year. Thus, any books of accounts shall be maintained for a total period to 81 month (9 month + 72 month = 81 month) from the end of relevant assessment year.

How many different sets of accounts be maintained:

If a registered person show two different types of business to the department then he have to prepare two different sets of books of accounts.