45. Maintenance and preservation of accounts and records

(1) Every registered dealer and every person liable to be registered under the Act shall keep and maintain a true and correct account of his all transactions showing the goods produced, manufactured, bought, transferred, purchased or procured, imported, supplied and sold by him and the value thereof separately, together with delivery chalans, invoices and bills. Every such dealer or person shall maintain accounts relating to purchase, sale and disposal in respect of each commodity, whether taxable or not, dealt with by him.
 (2) Every dealer shall maintain records of collection and payment of tax and the claim of tax credit during any period. Every dealer shall maintain a register of delivery chalan, tax invoice, credit note and debit note issued by him and he shall enter therein the details of tax invoices, credit notes and debit notes as prescribed in rules 42 and 43.
(3)(a)(*****)
(b)Every dealer dealing in commodities mentioned in Schedule III shall keep and maintain daily accounts separately over and above monthly account under clause(a) in Form 213.(b)Every dealer dealing in commodities mentioned in Schedule III shall keep and maintain daily accounts separately over and above monthly account under clause(a) in Form 213.
(5) Every purchasing dealer shall keep particulars of names and addresses of dealers or persons from whom he has purchased the goods and particulars of names and addresses of the dealers to whom he has sold the goods as also the complete address of the premises wherein goods transacted during the tax period are kept or stored by the dealer:
Provided that in case such goods are found either kept or stored at any place otherwise than the place referred to above, after giving an opportunity of being heard to such person under whose possession such goods are found, it shall be presumed that tax payable under the Act on such goods is attempted to evade and the assessing authority shall seize such goods and give receipt thereof to the person from whose possession or control such goods are seized:
Provided further that the assessing authority may release the goods on furnishing security in the manner referred to in rule 12 of the amount equivalent to fair market price of such goods seized.
(6) Every dealer shall keep the records and particulars of the goods which are disposed of without any consideration.
(7) Every commission agent, broker, del credere agent, auctioneer or any mercantile agent shall maintain accounts showing,-
(a) particulars of authorization given to him by each principal to purchase or sell goods on behalf of such principal separately;
(b) particulars of goods purchased or goods received for sale on behalf of each principal each day;
(c) particulars of purchases or sales effected on behalf of each principal;
(d) details of accounts furnished to each principal;
(e) details of transactions referred to in rule 17;
(f) tax paid on purchases or on sales effected on behalf of each principal and the chalan number and date of remittance of the tax into the Government Treasury.
(8) Every dealer or person executing works contract shall keep separate account showing,
(a) the particulars of names and addresses of the persons for whom and on whose behalf he carried on the execution of works contract;
(b) the particulars of goods procured by way of purchases or otherwise for the execution of works contract;
(c) the particulars of goods to be utilized in execution of each works contract,
(d) the details of payment received in respect of each works contract, and
(e) the particulars of charges towards labour service and other like charges which are deductible under sub-clause (c) of clause (30) of section 2:
 Provided that such amount shall be reasonable with regards to the nature of the respective works contract
. (9) Every dealer or person engaged in the transfer of right to use any goods shall keep -
(a) particulars of names and addresses of the persons to whom he has delivered the goods for use,
 (b) details of amounts received in respect of each transaction, and
 (c) monthly stock accounts in respect of each commodity dealt with by him and such stock account shall contain particulars of purchases or receipts, deliveries and balance of stock.
 (10) Every dealer or person liable under the Act shall keep books of accounts at the place or places of business mentioned in the certificate of registration and every purchase and sale shall be brought to account as soon as possible the purchase or sale is effected.
 (11) All the registers, accounts and documents maintained by such dealer or person shall be sequentially numbered, and where the registers and other documents are maintained by means of a computer or any other device, the dealer shall maintain hard copies of such registers and other documents on a monthly basis.
(12) Any entry in such registers, accounts and documents shall not be erased, effected or overwritten, and all incorrect entries shall be scored out under attestation and correct entry be recorded. Where the registers, accounts and documents are maintained by means of computer or any other device, the dealer shall also maintain hard copies of correction or change of any entry.
 (13) Accounts maintained by dealers together with all invoices, bills, declarations, waybills and delivery notes relating to stocks, deliveries, purchase and sales shall be preserved for the period of six  years from the end of the year to which such accounts and records relate and shall be kept at the place of business mentioned in the certificate of registration.
 (14) Any person either in capacity as carrier or clearing forwarding agent holds in custody for delivery or dispatch any goods on behalf of any dealer shall maintain true, complete and correct records in respect of the goods handled by him on behalf of the dealer and shall produce or cause to be produced the details thereof as required by the Commissioner.