42. Books and Accounts

(1) The following records shall be maintained by a dealer at his principal place of business, namely:-

(a) A monthly account specifying total output tax, total input tax and net tax payable or the excess tax credit due for carry forward.

(b)  Purchase records, showing details of purchases on which tax has been paid, purchases made without payment of tax, purchases made from an exempted

unit and purchases made from outside Delhi in Form DVAT-30. Original tax invoices for purchases on which tax has been paid and invoices for purchases made

without payment of tax shall be preserved date-wise and in numerical order.

(c)  Sales records showing separately sales made at different tax rates, zero rated taxable sales and tax-free sales in Form DVAT-31. Copies of tax invoices

related to taxable sales and invoices related to exempt sales shall be retained date wise and in numerical order.

(d)  Record of inter-state sales and inter-state transfer of goods (including that of goods sent for job work) supported by statutory declarations and such other

evidence as may be relevant.

(e) Details of input tax calculations where the dealer is making both taxable and tax free sales.

(f) Stock records showing stock receipts and deliveries and manufacturing records.

(g) Stock records showing separately the particulars of goods stored in cold storage, warehouse, godown or any other place taken on hire

(h) Order records and delivery challans, wherever applicable.

(i) Annual accounts including trading, profit and loss accounts and the balance sheet.

(j) Bank records, including statements, cheque book counter foils and pay-in-slips.

(k) Cash book, daybook and ledger.

(l) Record of credit and debit note(s) relating to purchase in Dvat-30A and record of credit and debit note(s) relating to sale in Dvat-31A.

(2) The following records shall be maintained by a dealer having elected to pay tax under section 16, namely:-

(a) Details of the goods purchased and sold by him; and

(b) Cash book, daybook, ledger, invoice books and purchase vouchers.

(3) Every owner or lessee of a cold storage, warehouse, godown or any such place, who stores goods for hire or reward shall maintain or cause to be maintained a correct and complete account indicating the full particulars of the person whose goods are stored and the quantity, value, date of arrival, date of dispatch and the proposed destination of such goods.

(4) Every person who carries goods for reward shall maintain or cause to be maintained a correct and complete account indicating the full particulars of the person whose goods are carried, the quantity, value, the place and date of delivery of such goods, vehicle number, and serial number and date of Goods Receipts (GR) note and his office copy of the same

Explanation.- For removal of doubts, books of accounts, as stated in this rule,shall  be  maintained  separately  in  relation  to  the  business  carried  out  in Delhi.

42A Gross turnover limit for accounts to be audited

 A dealer whose gross turnover in a year exceeds the prescribed limit as fixed for the  purpose, under section 44AB of the Income Tax Act, 1961 as amended from time to time or any  other law substituting the Act, he shall get his accounts of such year audited by an accountant, as  per the provisions of section 49.