CHAPTER VIII

ACCOUNTS AND RECORDS

67. Maintenance of accounts by a registered dealer. (1) Every dealer, who is

registered under the Act, or on whom a notice under sub-section (2) of section 33 has
been served to furnish return, shall, subject to sub-rules (4) and (5), maintain a true and
up-to-date accounts of goods
(i) purchased or received otherwise than by way of purchases, in the
purchase or input register;
(ii) sold or despatched outside the State otherwise than by way of sales by
him, in the sales or output register;
(iii) held in stock,
for the purpose of business.
(2) A dealer referred to in sub-rule (1) shall maintain accounts of waybills
issued and received, vouchers, bills, cash memos, tax/retail invoices and such other
documents, as may be required, in support of any entry in the purchase and sales register.
(3) Purchase and sales register referred to in sub-rule (2) shall be maintained
tax rate wise so that the totaling made at the end of each tax period will show the
purchases and sales under each tax rate and tax paid on such purchases and charged on
such sales during that tax period.
(4) A registered dealer engaged in the manufacturing or processing of goods
shall maintain true and up-to-date accounts of
(i) capital goods purchased;
(ii) inputs purchased;
(iii) inputs used in manufacturing and processing of goods for sale;
(iv) goods manufactured including manufacturing account;
(v) goods sold; and
(vi) stock account of inputs, consumables, packing materials, fuel, and
finished products and bye-products, if any.
(5) A registered dealer engaged in the execution of works contract shall
maintain a true and up-to-date account of-
 (i) goods purchased for use in the execution of works contract;
(ii) goods utilized in the execution of works contract;
(iii)sale value of the goods at the time, such goods are appropriated to the
works contract;
(iv) stock account of goods
68. Contents of tax invoice and retail invoice. (1) The tax invoice issued
under sub-section (1) of section 62 shall contain the following particulars, namely:-
(a) the words Tax Invoice in bold letter at the top,
(b) the name, address and registration certificate number of the selling
registered dealer,
(c) the name, address and registration certificate number of the purchasing
registered dealer,
(d) in case, the sale is in course of export out of the territory of India, the
name, address, registration certificate number, if any, of the
purchasing dealer or foreign buyer and the type of statutory form, if
any, against which the sale has been made,
(e) an individual serialized number and the date on which the tax invoice
is issued,
(f) description, quantity, volume and value of goods sold and the amount
of tax charged thereon indicated separately,
(g) signature of the selling dealer or his manager or any other employee
or agent, duly authorized by him, and
(h) the name and address of the printer, if any, and first and last serial
number of tax invoices printed and supplied by him to the dealer.
(2) The retail invoice as referred to in sub-section (2) of section 62 shall
contain the following particulars, namely-
(a) the words Retail Invoice or Cash Memorandum or Bill in bold
letter at the top,
(b) the name, address and registration certificate number of the selling
registered dealer,
(c) the name and address of the purchaser, if available,
 (d) an individual serialized number and the date on which the retail
invoice is issued,
(e) description, quantity, volume and the value of goods sold showing the
amount of tax charged separately,
(f) signature of the selling dealer or his manager or any other employee
or agent, duly authorized by him, and
(g) the name and address of the printer, if any, and the first and last serial
number of retail invoices printed and supplied to the dealer.

69. Records to be maintained by a registered dealer liable to pay tax under

clause (a) of section 9. Every registered dealer liable to pay tax under clause (a) of
section 9 shall, in addition to the accounts referred to in sub-rules (1), (2) and (3) of rule
67, maintain such accounts and documents as may be required to establish his claim for
filing revised return for any tax period, zero rate sales, claim of input tax credit, stock of
goods, cash balance, utilisation of waybills and statutory declaration forms issued under
the Central Sales Tax Act, 1956 and other claims and transactions relating or incidental to
the business of such dealer.
70. Accounts to be maintained by a registered dealer liable to pay turnover
tax under clause (b) of section 9. (1) The following particulars shall be maintained by
a dealer liable to pay turnover tax under clause (b) of section 9, namely : -
(a) the name and address of the person from whom goods are purchased
supported by invoice, bill or delivery note issued by the seller under
his signature;
(b) description of the goods;
(c) the quantity and value of goods so purchased under clause (a) above;
(d) the quantity and the value of goods sold, showing separately the sale
of goods exempt from tax;
(e) counterfoils of retail invoices issued, which are serially numbered for
each year.
 71. Issue of Tax invoice and Retail invoice. (1) Where a registered dealer
effects sales to another registered dealer, the dealer making the sale shall issue a tax
invoice.

(2) Where a registered dealer effects sales to an unregistered dealer or a

registered dealer liable to pay turnover tax under clause (b) of section 9, he shall issue a
retail invoice.

(3) Where a registered dealer effects sales of goods, specified in Schedule C

of the Act to any dealer irrespective of whether he is registered or not under the Act, he
shall issue a retail invoice.

(4) Where a registered dealer liable to pay tax under clause (b) of section 9
effects sale of goods, the tax-exclusive price of which is rupees two hundred or above in
any single transaction, he shall issue a retail invoice against such sale, in accordance with
the provisions of sub-section (2) of section 62.

(5) Separate accounts shall be maintained in respect of sales in respect of

which tax invoices are issued and sales in respect of which retail invoices are issued.

(6) Where a registered dealer liable to pay turnover tax under clause (b) of
section 9 issues retail invoices in respect of sales and the sale price charged therein is
inclusive of tax, the tax amount due for payment shall be calculated by applying the tax
fraction to the tax-inclusive sale price.

(7) All tax invoices and retail invoices issued against sales made by a
registered dealer shall indicate the tax charged at each rate of tax separately.

(8) Tax invoice/retail invoice issued by a registered dealer shall be signed by

the dealer himself or his authorised representative.

(9) Where invoices as referred to in sub-rule (8) are generated electronically

they shall also be signed by the dealer himself or his authorised representative.
72. The language in which accounts are to be maintained. (1) Every
registered dealer liable to pay tax under clause (a) of section 9, who maintains accounts in
a language other than English shall adopt international numerals in the maintenance of
such accounts.
(2) Every registered dealer liable to pay tax under clause (b) of section 9 shall
keep and maintain account in any language specified in the Eighth Schedule to the
Constitution of India or in the English language.
73. Certificate to be furnished by the Accountant. Where the accounts of a
dealer are required to be audited under section 65, a certificate in the following form shall
be furnished along with the audited accounts (Trading account, Profit and loss account
and Balance sheet) for each year by the Accountant conducting such audit.
Form of Certificate
(See rule 73)
I/We have examined the trading account of _________________ (mention
name and address of the dealer with TIN) as at 31st March________________ and the
Profit and Loss account and Balance Sheet for the year ended on that date. The said
accounts are attached herewith.

2. I / We certify that the trading account, Profit and Loss account and the
Balance Sheet are in agreement with the books of account maintained at the principal
place of business at __________ and the branches at ______________.

3. I/We certify that the gross turnover and the taxable turnover returned by the
dealer, the input tax credit claimed and output tax shown as payable in the returns
furnished for the above mentioned year, are in agreement with the books of account
maintained in the principal place of business and the branches at ___________.

4. (a). I/We report the following observations/ comments/ discrepancies/

inconsistencies, if any:
(b) Subject to above -
(i) I/We have obtained all the information and explanations which to
the best of my/our knowledge and belief, were necessary for the
purpose of audit.
 (ii) In my/our opinion, proper books of account have been maintained
at the principal place of business and branches of the dealer so far
as it appears from my/our examination of the books.
(iii)In my/our opinion and to the best of my/our information and
according to the explanations, that have been given to me/us, the
said accounts, read with notes thereon give a true and fair view :-
in case of trading account, the state of affairs of business of the
dealer as on 31st March _________,
in case of Profit and Loss account, the profit/loss or
surplus/deficit of the dealer for the year ended on that date, and
in case of the Balance Sheet, of the state of affairs of the dealer
for the year ended on that date.

______________________

Signed
Place____________________ Name_______________________
Date______________________ Address______________________