Books Of Accounts Are Not Maintained By

Books Of Accounts Are Not Maintained By. It is mandatory to maintain the books of accounts under uae company law and uae vat law. 25,000 shall be levied under section 271a.

If a person has not maintained account books or any accounts the question of audit does no arise. It is mandatory to maintain the books of accounts under uae company law and uae vat law. All businesses establishments and taxable entities who have registered for vat in uae has to maintain proper books of accounts by recording their day to day business transactions in order to track the result of their operations.

Entries when separate account books are maintained.

All businesses establishments and taxable entities who have registered for vat in uae has to maintain proper books of accounts by recording their day to day business transactions in order to track the result of their operations. However, a supplier who has opted for composition scheme is not required to maintain such records. Not maintaining the separate books; • inward and outward supply of goods or services or both;