Answer

1. F

   Facts

   Rule 56 asks for records of goods and services received and supplied, stock, advances received and paid, tax paid, ITC, and the names and addresses of suppliers and buyers. Records are kept for each place of business.

2. P

   Provisions and law

   • Rule 56, CGST Rules 2017Details of records: supplies, stock, advances, tax paid, ITC and names of suppliers and buyers, kept at each place of business
   • Sec 35(1), CGST Act 2017Every registered person keeps true and correct accounts of production, stock, inward and outward supplies, ITC and output tax at the principal place of business
3. A

   Analysis

   Rule 56 expands Sec 35. It also covers goods lost, stolen, destroyed, written off or given as free samples, which many shops forget. Example: if 10 cartons are damaged in a leak, write them off in the stock record with a note, because unexplained shortages can be treated as supplies. Keep records at each godown or branch listed in your registration.

4. C

   Conclusion

   1. 1List the registers you need: sales, purchase, stock, advances, tax.
   2. 2Record goods lost, damaged or given free with a note.
   3. 3Keep supplier and buyer names and addresses.
   4. 4Keep records at each place of business.

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