6. Accounts

(1) Every registered dealer under the Act shall maintain true, correct and complete account in ink or electronic records in any of the languages specified in the Eighth Schedule to the Constitution of India or in English showing the goods produced or manufactured, bought, sold, delivered or supplied.

Provided that the dealer maintaining accounts in electronic form shall furnish the details to the registering authority in Form G-1:

Provided further that Form G-1 shall be furnished:-

(i)within thirty days on and from the 29th January 2016; or

(ii) within thirty days from the date of commencement of the business; or

(iii) within thirty days from the date of installation of the software application used to maintain accounts in electronic form, as the case may be:

Provided also that the modification, deletion or addition of features of the Accounting or Enterprise Resource Planning software application, if any, shall be informed to the registering authority within thirty days from the date of such modification, deletion or addition.

 (2) (a) Every dealer shall maintain accounts showing purchases and sales.

(b) The purchase account maintained by registered dealer shall contain the following particulars, namely -

  (i) Invoice No. and date with seller’s Taxpayer Identification Number;

 (ii) Description of the goods purchased;

 (iii) Value of purchase of exempted goods;

(iv) Value of the goods purchased from registered dealers with rate of tax;

 (v) Value of the goods purchased from unregistered dealers with rate of tax;

(vi) Value of goods purchased from outside the State by issue of ‘C’ Forms as prescribed under the Central Sales Tax (Registration and Turnover) Rules, 1957;

 (vii) Value of goods purchased from outside the State without issue of ‘C’ Forms;

 (viii) Value of goods purchased as specified in the Second Schedule;

(ix) Value of goods received on stock transfer from principal or head office situated outside the State for sale;

(x) Value of goods received on stock transfer from the principal within the State for sale;

 (xi) Value of goods imported;

 (xii) Value of goods returned;

(xiii) Total tax paid on local purchases;

(c) The sales or stock transfer account maintained by a registered dealer shall contain the following particulars, namely: -

(i) Invoice No. and date with buyer’s Taxpayer Identification Number;

(ii) Description of goods with quantity and value sold;

 (iii) Sale value of exempted goods ;

 (iv) Sale value realized out of stock received from the principal;

 (v) Value of goods under zero rated sale out of taxable purchases;

(vi) Inter-State sales out of taxable purchases;

 (vii) Sale value of goods specified in the Second Schedule;

 (viii) Sale value of goods taxable at 1% with tax due;

 (ix) Sale value of goods taxable at 4% with tax due;

 (x) Sale value of goods taxable at 12.5% with tax due;

 (xi) Sale value of goods sold in the course of inter-State sale against ‘C’ Form as prescribed under the Central Sales Tax (Registration and Turnover) Rules, 1957;

 (xii) Sale value of goods sold in the course of inter-state sales without ‘C’ Form;

 (xiii) Value of goods despatched to outside the State with Form F, as prescribed under Central Sales Tax (Registration and Turnover) Rules, 1957;

 (xiv) Value of goods despatched to outside the State without Form F;

 (xv) Value of goods returned;

 (xvi) Total tax due;

(xvii) Tax payable: Provided that the purchase accounts and sales accounts maintained by a dealer who opted to pay tax under subsection (4) of section 3 or section 8 would suffice to contain the description, invoice number and the value of the goods purchased or sold.

(3) (a) Every registered dealer who manufactures or produces shall maintain a production-cum-stock account in Form H.

(b) Every registered dealer who is a manufacturer or producer and purchases industrial inputs to use them in manufacture of taxable goods shall issue a certificate to the seller containing the details of his Taxpayer Identification Number, the details of goods purchased, details of goods manufactured and the name and address and Taxpayer Identification Number of the seller.

(4) Every registered dealer shall issue bill or invoice for each sale in triplicate showing the particulars of goods and quantity sold with its value, one copy of which must be retained for check by the officials of the Commercial Taxes Department. The invoice shall contain the rate and tax charged, the Taxpayer Identification Number of the seller and that of the buyer, in case the buyer is a registered dealer.

(5) Every registered dealer, who effects sales through agents shall maintain the accounts of goods consigned on each occasion, agent-wise showing the particulars of name and full address of the agent, nature and quantity of goods dispatched and details of the mode of dispatch and delivery note. He shall also maintain the originals of the written contract, if any, entered into between him and the agent, office copies of the authorisation letter, consignment notes or dispatch advices, as the case may be, sent to the agent in respect of the goods dispatched on each occasion.

 (6) (a) Every commission agent, broker, del credere agent, auctioneer or other mercantile agent, by whatever name called, shall maintain-

      (i) a register showing the particulars of goods purchased or received for sale on each occasion, in respect of each principal separately;

(ii) the original or copy of the written contracts, if any, entered into between the agent and the principal;

(iii) copies of authorisations received by him to purchase or sell goods on behalf of each principal separately;

 (iv) details of purchases or sales effected on behalf of each principal, showing the names of commodities, quantities and value of purchases or sales, and the tax due thereon;

 (v) copies of pattials, i.e., accounts rendered by the agent to the principal from time to time, showing the gross amount of the purchases or sales, deductions on account of commission and incidental charges and the net amount payable to the principal.

(b) Every such agent shall also furnish to the assessing authority concerned on or before the 20th of each month a statement in respect of each principal showing the turnover of purchases or sales effected on behalf of each principal in the previous month, containing the following particulars, namely:-

(i) Name and full address of the principal;

 (ii) Name and value of goods bought or sold, liable at different rates of tax;

 (iii) Amount of input tax paid or payable on purchases on behalf of the principal;

 (iv) Amount of output tax due on the turnover.

(7) Every registered dealer, who is a manufacturer of jewellery, shall also maintain an order book showing the particulars of name and address of customer placing order, date of order, weight of bullion or old jewels received from the customer and date of delivery of finished jewels. He shall also maintain the particulars of weight of bullion added by him, if any, out of his own stock.

(8) Every registered dealer, who opted to pay tax at the rate specified in section 6 shall maintain accounts showing the details of contract with value and the payments received.

 (9) Every registered dealer, who claims input tax credit shall maintain an input tax adjustment account with the following particulars, namely:-

 (a) Month ;

 (b) Input tax credit brought forward;

(c) Input tax paid during the month;

 (i) at 1%; 1

(ii) at 4%; 1

(iii) at 12.5%;

 (d) Reversal of input tax credit;

 (e) Total input tax credit;

 (f) Ineligible input tax credit;

 (g) Net input tax credit claimed;

 (h) Output tax;

 (i) Advance tax adjusted including entry tax;

(j) Tax payable.

(10) Every registered dealer who claims input tax credit on capital goods shall maintain input tax adjustment account with the following particulars, namely:-

(a) Month;

b) Date of commencement of commercial production;

(c) Value of capital goods;

(d) Rate of tax;

 (e) Tax paid;

 (f) Tax credit availed - First year (not exceeding fifty per cent) Second year Third year.

(11) Accounts maintained by a registered dealer shall be preserved by him for a period of 1 [six] years from the date of assessment.