(1) The dealer liable to get his accounts audited as required under sub-section (1) of section 70 of the Act, shall transmit to the Appropriate Assessing Authority, the audited statement of accounts in Form VAT XV, using digital signature, on or before the last date of the tenth month immediately after the end of the relevant year, through electronic system by using a system code availed from the Appropriate Assessing Authority. The Audit report shall be signed and verified by the Chartered Accountant setting forth all the particulars and certificates as are required to be specified in such Form.

Provided that the Commissioner may, by order, extend such date not beyond a period of two months.

(1A) Notwithstanding anything contained in sub-rule (1), the dealer liable to get his accounts audited as required under sub-section (1A) of section 70, shall transmit to the Appropriate Assessing Authority, the audited statement of accounts in Form VAT XV, using digital signature, on or before the last date of the third month immediately after the end of the relevant year through electronic system by using a system code availed from the Appropriate Assessing Authority. The Audit report shall be signed and verified by the Chartered Accountant setting forth all the particulars and certificates as are required to be specified in such Form. The dealer who transmits such audited statement of accounts to the Appropriate Assessing Authority shall not be liable to furnish final accounts under rule 42A:

Provided that the Commissioner may, by order, extend the due date of transmitting such audited statement of accounts for a further period not exceeding two months.

(2) Wherever, such audit report is not filed within the time specified in sub-rule (1) , the dealer shall deposit the penalty as specified in sub-section (3) of section 70 of the Act and copy of the e-challan as proof of payment shall be submitted to the Appropriate Assessing Authority.