50. Maintenance and preservation of accounts.-

(1) All accounts maintained by a dealer together with all vouchers relating to stocks, deliveries, purchases and sales for a year, shall be preserved by them for a period of five years from the end of the year to which the accounts relates to. In computing the period of five years, the time during which any proceedings under the Act remains pending before a Civil Court or other authority, shall be excluded.

(2) Every registered dealer shall keep books of account for the current year, at the place of business specified in the certificate of registration. A dealer having more than one place of business in the Union territory, the books of account relating to each place of business for the current year shall be kept in the place of business concerned. He shall also keep the books of account for the previous five years at such place or places as he may notify to the registering authority.