43. Maintenance of records.-

Records to be maintained by registered dealers.

(1) Every registered dealer shall keep and maintain a true and correct account of his business transactions.

(2) The following records in particular shall be maintained:

(a) a monthly account specifying total output tax, input tax and net tax payable or the tax credit due for refund including carried forward of such balance from the preceding month.

(b) purchase records, such as, purchase invoices, cash and credit invoices with despatch challans and transport and courier documents/receipts wherein tax has been charged and all purchases made without charge of tax including import of goods from other States or Countries or from unregistered dealers.

(c) sales records showing separately sales made at each rate of tax, zero rate and exempt sales.

(d) the copies of tax invoices related to taxable sales and invoices related to exempt sales in chronological and numerical order.

(e) credit and Debit note issued/received, in chronological and numerical order.

(f) records of all zero rated exports of goods together with copies of custom clearance certificates, invoices issued to the foreign purchasers, transport documentation, Form 'H' prescribed under the Central Sales Tax Act 1956, orders or contracts for with the foreign purchasers and evidence of payment by bank, transfer through a bank or by a letter of credit payable by Bank.

(g) records of inter-State sales and inter-State transfer supported by 'C' Forms, 'F' Forms, way bills and stock transfer vouchers.

(h) cash records maintained by retailers, viz. cash book, petty cash, vouchers, and other accounting records including cash registers, machine rolls details in the daily takings.

(i) details of input tax calculation where the registered dealer is making both taxable and exempt sales.

(j) the registers, accounts and documents maintained shall be sequentially numbered and where the register and other documents are maintained by means of a computer or any other similar mechanical device, the dealer shall maintain copies in paper of such registers and other documents printed on a monthly basis;

(k) documentation, records and claims eligible for all transitional tax credit in respect of stock held on the appointed day or on first registration.

(l) stock records showing stock receipts, returns, deliveries and balances ratewise.

(m) manufacturing records including records of capital goods and raw materials.

(n) annual accounts including Trading, Profit & Loss account and Balance Sheet ,with Schedules.

(o) order records, delivery notes/challans and way bills.

(p) records of the bank transactions.

(3) A dealer opting for composition of tax under section 7 of the Act and an unregistered dealer shall maintain a daily record of his gross sale and purchase details.

(4) All records maintained in course of business shall be retained for a period of six years from the expiry of the year to which they relate.