22. Maintenance of accounts by dealer

A dealer liable to assessment under the Act shall, subject to any relaxation made by the Commissioner, in respect of any class of dealers, maintain the following accounts for taxable and non taxable goods separately:

(i) Day to day record of purchases and sales giving value and quantitative details thereof.

(ii) Manufacturing, trading and profit and loss accounts supported by the stock account for the year and balance sheet as on last day of the year.

(iii) Purchase invoices, transport and railway receipts.

(iv) Sale bills and cash memos (in duplicate) serially numbered and bearing General Sales Tax/Central Sales Tax Registration Nos. and issued to the purchaser in respect of each transaction of sale at the time of making such transaction.

(v) Complete account of sales tax recovered/recoverable from the purchasers.