61. Maintenance of accounts and records, etc.

(1) Every registered dealer or a dealer to whom a notice has been served to furnish return under sub-section (2) of section 33 shall maintain, in such form as may be prescribed, a true and up to date account of the value of goods purchased or manufactured and sold by him or goods held by him in stock.

(2) Every registered dealer shall keep, at his place of business as recorded in the certificate of registration, all accounts, registers and documents maintained in the course of business :

Provided that if any such dealer has established branch offices of the business at different places of the State other than the principal place of his business, the relevant accounts, registers and documents in respect of each such branch shall be kept by him at the concerned branch.

(3) If the Commissioner is of the opinion that the accounts maintained by any dealer or class of dealers are not sufficient for verification of the returns referred to in sub-section (1) of section 33 or that the assessment cannot be made on the basis thereof , he may require such dealer or class of dealers to keep such accounts, in such form and in such manner as he may, subject to rules, direct.

(4) If the Commissioner is satisfied that dealers of any class are not in a position to maintain accounts in accordance with the provisions of sub-section (1) , he may, for reasons to be recorded in writing , exempt such class of dealers from maintaining such accounts.

(5) If a dealer fails to make available the books of account as specified under sub-section (1) at his principal place of business or the branch office, as the case may be, to any officer appointed under section 3 to assist the Commissioner for inspection other than audit, the Commissioner may impose on such dealer a penalty of rupees five thousand, after giving him an opportunity of being heard.