32. Maintenance and preservation of accounts

(1) Every person registered under the Act, every dealer liable to get himself registered under the Act and every other dealer who is so required by an assessing authority by notice served in the prescribed manner, shall keep and maintain the following books of accounts disclosing true and complete accounts of his daily transactions in Malayalam, Tamil, Kannada, Gujarathi or English showing the goods produced, manufactured, bought and sold by him and the value thereof separately together with the vouchers and bills:-

(iii) a ledger.

(2) Every dealer shall keep separate purchase and sales accounts for different goods liable to tax at different rates of tax.

(3) Every registered dealer, every dealer liable to get himself registered under the Act and every other dealer who is required so to do by the assessing authority shall keep the current books of account at the place or places of business entered in the certificate of registration. Every purchase and every sale shall be brought to account then and there as soon as the purchase or sale is effected.

(4) Every dealer in declared goods shall maintain separate accounts in respect of each of such class of goods.

(4A) Every dealer liable to pay turnover tax shall maintain separate accounts for the goods liable to turnover tax;

(5) Every dealer shall keep separate accounts in respect of sales or purchases in the course of export or import and in respect of inter-State sales of purchases.

(6) Every commission agent, broker, del credere agent, auctioneer or any other mercantile agent shall maintain accounts showing:-

(b) particulars of goods purchased, or of goods received for sale on behalf of each principal each day;

(e) the tax paid on purchases or on sales effected on behalf of each principal and the Chalan No. And date of remittance of the tax into Treasury.

(7) Every dealer who sells goods to a purchasing agent shall keep particulars of the name and address of the purchasing principle on whose behalf of the agent buys.

(8) Every purchasing agent shall keep particulars of the names and addresses of dealers or persons from whom they purchase the goods and the selling agent shall keep particulars of the names and addresses of the dealers or persons to whom they sold the goods.

(9)Every wholesale dealer, importer, exporter and manufacturer shall maintain day to day stock accounts of each class of goods dealt in by him. The stock account shall contain particulars of purchases or receipt sales or deliveries and balance stock.

(10) Every dealer liable to pay tax shall issue a bill or cash memorandum in respect of every sale involving an amount of Rupees ten or more and in all other cases on demand by the purchaser and where the sale is subject to approval by the purchaser, such dealer shall issue bill or cash memorandum specifying therein that the sale is subject to approval within a stated period of time.

(11) Every such bill or cash memorandum shall bear the name and address of the seller, with his trade name, if any, his registration certificate number, quantity and value of goods sold, other charges realised being separately shown and in the case of sales exceeding Rupees one hundred the full name and address of the purchaser and shall be signed and dated by the dealer or his authorised agent.

(12) Every such bill or cash memorandum shall be prepared in duplicate serially machine-numbered, one copy of it shall be issued to the purchaser and other copy shall be retained by the dealer. The serial numbers assigned to the bills or cash memoranda shall run consecutively for the whole year. Where a dealer maintains separate series of bills or cash memoranda for different classes of goods, such dealer may use different series  with the alphabets A,B,C, etc., prefixed to each series. The dealer shall intimate the series and the opening numbers of Bills or cash memoranda intended to be used by him in a year to the assessing authority during the month of April and the last number of the bill or cash memoranda issued shall be noted in the annual return relating to the year.

13A. Every dealer in goods taxable at the point of first sale in the state, shall, if he is not liable to tax on such goods by reason of his sale being to the trade mark or brand name holder, obtain a declaration in Form No. 25D from the trade mark or brand name holder. The declaration so obtained shall be submitted to the assessing authority along with return in Form No. 9 for the period to which such sale relates, along with a statement of such declarations showing the name and address of the dealers to whom the goods were sold with particulars of sale bill, quantity and value and the total turnover covered by such declaration.

(13B) Where, for any reason the goods sold by the trade mark holder or brand name holder had suffered tax at the hands of the dealer who sold the goods to such trade mark or brand name holder, the tax payable by the trade mark or brand name holder on the sale of such goods shall be reduced by the amount of tax paid at such previous point of sale.

(13C) Every dealer in goods taxable at the point of first sale and last which are coming under the Fifth Schedule to the Act, shall, if he is not liable to tax on such goods by reason of his not being the first seller or the last seller of the goods in the State, obtain a declaration in Form No. 25A from the purchasing dealer. The declaration so obtained shall be submitted to the assessing authority on or before 15th of the month succeeding to which the sales relate along with a statement of such declarations showing the name and address of the dealers to whom the goods were sold with the particulars of sale bill, quantity and value and total turnover covered by such declarations.

(14) Every dealer in goods taxable at the point of last purchase in the State shall, if he is not liable to tax on such goods by reason of his not being the last purchaser in the State, obtain a declaration in form 25 from the person to whom he has sold the goods. A blank book of declaration of Form 25, shall be obtained from the assessing authority, on payment of a fee at the rate of seventy rupees per book of 50 forms. Every purchaser shall issue such a declarations to the seller. The declaration so obtained shall be submitted in duplicate to the assessing authority on or before the fifteenth of the month succeeding that to which the sales relate along with a statement of such declarations showing the name and addresses of the dealers to whom the goods were sold with the particulars of sale bill, quantity, and value, and the total turnover covered by such declarations.

(14A) Every dealer in goods taxable at the point of first purchase in the State shall if he is not liable to tax on such goods by reason of his not being the first purchaser in the State, obtain a declaration in Form No. 25C from the person from whom he has purchased the goods. Every seller shall issue such a declaration to the purchaser in triplicate and the declaration so obtained shall be submitted to the assessing authority in duplicate on or before the fifteenth of the month succeeding to which the purchase relates along with a statement of such declarations showing the names and addresses of the dealers from whom the goods were purchased with the particulars of the purchase bill, quantity, value and the total turnover covered by such declarations;

(14AA) (i) Every dealer in cardamom who is the first purchaser of such cardamom within the State shall, if he claims exemption on the ground that the goods so purchased has been sold through auctioneers within the State and tax has been collected and paid in respect of such sale in auction, obtain a declaration in Form 25E from the auctioneer, in duplicate, and the declaration so obtained shall be submitted to the assessing authority along with the return for the month/ quarter to which the purchase relates along with a statement of such declarations in the following Form, namely:-

FORM

(14B) The Certificate of audit required to be furnished under Section 27A shall be in Form No, 50A shall be furnished to the assessing authority in the case of a company on or before 31st December and in other cases on or before 31st October to the year succeeding to which it relates. Along with the certificate of audit in Form 50A signed by the Chartered Accountant, the dealer shall file a statement in Form 50B.

(15) Every manufacturer of goods shall maintain daily production accounts, showing quantitative details of the various raw materials used for the manufacture and the quantitative details of the goods so manufactured.

(15A) A dealer in jewellery of gold, silver and platinum group of metals, shall maintain a manufacturing account in Form No.25B.

(16) Every dealer who is required to maintain stock accounts shall maintain subsidiary accounts for each godown if there is more than one godown for keeping his stocks.

(17) Every wholesale dealer while delivering goods to a retail dealer in pursuance of a sale where no sale bill issued or every person who consigns goods by any vehicle or vessel or any other means in pursuance of a sale where a sale bill is not issued or consigns goods through the said means from one godown to another or from one of his shops to another for the purpose of storage or sale, shall issue a delivery note in Form 26. A blank book of delivery note of Form 26 shall be obtained from the assessing authority, on payment of a fee at the rate of seventy rupees per book of 50 forms.

(18) Every such delivery note shall be prepared in triplicate, the duplicate and triplicate being carbon copies of the original serially machine numbered shall be kept in book form and shall be duly signed and dated by the consigning dealer or his manager or authorised agent and the original of it shall be furnished to the assessing authority concerned, the duplicate shall be retained by the purchasing dealer or the person to whom the goods are delivered for transporting and the triplicate shall be retained by the consigning dealer.

(19A) Every person who consigns goods by any vehicle or vessel which is not in pursuance of a sale shall issue a certificate of ownership in form 27A.

(20) Purchase bills or vouchers of exempted goods and goods liable to tax at different rates shall be kept separately date-wise and shall be serially numbered so as to facilitate easy checking of accounts by the assessing authority concerned.

(21) Accounts maintained by dealer together with all vouchers, bills, declarations, way bills and delivery notes relating to stocks, deliveries, purchases, output and sales shall be preserved by them for a period of two years from the date of completion of the final assessment of the year to which they relate or from the date of disposal of the appeal or revision arising out of such assessment or from the date of completion of any other proceeding under the Act connected with such assessment or appeal or revision, whichever is later and shall be kept at the place of business mentioned in the certificate of registration.