Accounts keeping
Vijeesh Parapattil (105 Points)
03 July 2020
Is it necessary to keep accounts, if a business is not registered under gst(Under 20k turnover)
2 Replies
prasad Nilugal
(3924 Points)
Replied 03 July 2020
As per GST act if you are registered then you have to maintain books of accounts , however as per the Income Tax law if your profit margin is more than 2,50,000/- ( Two lac fifty thousand ) then you have to maintain books of accounts
KRISSHNAN KP
(4215 Points)
Replied 05 July 2020
Even your turnover will be less than limit you may maintain the necessary documents
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