(1) Every dealer required to furnish audit report under sub-section (2) of section 39 shall furnish the audit report prepared by a Chartered Accountant for the purpose of Income Tax, to the appropriate Commercial Tax Officer or any other Officer authorised by the Commissioner in this behalf by 15th November of the succeeding year;

Provided that,-

(i) Omitted;

(ii) Omitted;

(iii) a dealer who is an industrial unit having annual turnover of ten crore rupees or less may furnish the audit report prepared by a member of Institute of Cost and Works Accountants of India;

(iv) the audit report can be furnished upto 31st December of the succeeding year with a late fee of rupees 100/- per day.

(v) the audit report pertaining to the year 2011-2012 can be furnished upto 28th February, 2013 without a late fee.

(vi) the audit report pertaining to the year 2012-2013 can be furnished upto 28th February 2014 without a late fee.

(vii) the audit report pertaining to the year 2013-2014 can be furnished up to 31st December, 2014 without a late fee.

(viii) the audit report pertaining to the year 2014-15 can be furnished upto 31st December, 2015 without a late fee.

(ix) the audit report pertaining to the year 2015-2016 can be furnished up to 31st December, 2016 without a late fee.

(x) the audit report pertaining to the year 2016-2017 can be furnished up to 15tht December, 20176 without a late fee.

(xi) the audit report pertaining to the year 2017-2018 can be furnished up to 15th February, 2019 without a late fee.

(xii) the audit report pertaining to the year 2019-2020 can be furnished upto 30th April, 2021 without any late fee.

(XIII) the audit report pertaining to the year 2020-2021 can be furnished upto 15th April, 2022 without late fee.

(2) Omitted.

(3) If the Commissioner considers it necessary that a dealer or class of dealers shall maintain accounts including records of sale or purchase in a particular form, he shall, after recording reasons therefor in writing -

(i) by issue of an order to such dealer, direct him; or

(ii) by issue of a notification under sub-section (3) of section 39, direct such class of dealers,

to maintain accounts in the form appended to the order/notification after the expiry of the month following that in which such order or notification is made or issued, as the case may be.