Taxation - Income TaxQuestion 5643 of 146
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2017. (5 Marks)

Options

Aparticulars of authorisation received by him from each principal to receive/supply goods/services on behalf of such principal separately;
Bparticulars including description, value and quantity (wherever applicable) of goods/services received on behalf of every principal;
Cparticulars including description, value and quantity (wherever applicable) of goods/services supplied on behalf of every principal;
Ddetails of accounts furnished to every principal; and (e) tax paid on receipts/ supply of goods/services effected on behalf of every principal.
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Correct Answer

Option Aparticulars of authorisation received by him from each principal to receive/supply goods/services on behalf of such principal separately;

All Options:

  • Aparticulars of authorisation received by him from each principal to receive/supply goods/services on behalf of such principal separately;
  • Bparticulars including description, value and quantity (wherever applicable) of goods/services received on behalf of every principal;
  • Cparticulars including description, value and quantity (wherever applicable) of goods/services supplied on behalf of every principal;
  • Ddetails of accounts furnished to every principal; and (e) tax paid on receipts/ supply of goods/services effected on behalf of every principal.

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Detailed Solution & Explanation

Correct Answer: Option **A** Explanation: Under Rule 56 of the CGST Rules, 2017, the Commissioner has notified that an agent (as defined under Section 2(5) of the CGST Act, 2017) is required to maintain the following additional accounts or documents:

1. **Authorisation Particulars:** Particulars of authorization received by the agent from each principal to receive or supply goods or services on behalf of such principal separately.
2. **Goods/Services Received:** Particulars including description, value, and quantity (wherever applicable) of goods or services received on behalf of every principal.
3. **Goods/Services Supplied:** Particulars including description, value, and quantity (wherever applicable) of goods or services supplied on behalf of every principal.
4. **Accounts Furnished:** Details of accounts furnished to every principal.
5. **Tax Paid:** Tax paid on receipts or supply of goods or services effected on behalf of every principal.

Since the correct option corresponds to Option A, which represents the first of these required records, we confirm:

Hence, **Option A** is the correct answer.

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