38. Documents and accounts. -

(1) A registered dealer availing input tax credit shall maintain proper records in which the relevant information regarding the serial number and date of document on which input tax credit is availed, VAT registration number and name of the selling dealer, description and value of goods, input tax credit availed, input tax credit utilized for payment of tax on output shall be recorded. The burden of proof regarding the admissibility of input tax credit shall lie upon the person taking such credit.

(2) The registered dealer availing input tax credit shall submit to the assessing authority an abstract statement of VAT account as prescribed in rule 61.