51. Maintenance of accounts by a dealer.-

(1) The following accounts shall normally be maintained by a registered dealer other than the dealers paying presumptive tax or lumpsum under section 7 or sub-section (2) of section 16, -

(a) cash book, day book, ledger, invoice books and purchase vouchers;

(b) a monthly tax account specifying total output tax, total input tax credit and net tax payable or the excess tax credit due for carry forward;

(c) purchase records, showing details of purchases on which tax has been paid, purchases made without payment of tax, purchases made from an exempted industrial unit and purchases made from outside the State. Original tax invoices for purchases on which tax has been paid and invoices for purchases made without payment of value added tax shall all be retained in date and numerical order;

(d) sales records showing separately sales made in the State at different rates of tax, zero rated taxable sales, and tax-free sales. Copies of tax invoices related to taxable sales and invoices related to tax free sales shall all be retained in date and numerical order;

(e) record of inter-State sales inter-State transfers of goods, including that of goods sent for job work, supported by statutory declarations and such other evidence as may be relevant;

(f) details of input tax credit calculations where the registered dealer is making both taxable and tax-free sales;

(g) stock records showing stock receipts and deliveries of goods and manufacturing records;

(h) order records and delivery challans, wherever applicable;

(i) final annual accounts including trading account, balance sheet and profit and loss account at the end of the year;

(j) bank records, including statements, cheque books counter foils and pay-in-slips.

(2) A dealer may maintain account books as per his requirement and nature of business but these shall contain all the information specified in this rule.

(3) Every person who is required to deduct tax under section 17, shall keep account of the payments made, whether by cash, adjustment, credit to the account, recovery of dues or in any other manner, to the work contractors in relation to or for the execution of the works contract(s) or the supply of goods, as the case may be. The accounts shall be kept separately in respect of each works contract or the contract for the supply of goods and each contractor or supplier, as the case may be. Such person shall, when required by any other officer of the Excise and Taxation Department not below the rank of an Excise and Taxation Inspector produce the accounts before him.