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Section 48 of Delhi Value Added Tax Act 2004 - Records and accounts

What is the law regarding Records and accounts Section 48 of DVAT Act 2004

Section 48 : Records and accounts - Delhi Value Added Tax Act 2004

Rule 32, Forms 30, 31

(1) Every -
(a) Dealer;

(b) person on whom a notice has been served to furnish returns under section 27 of the Act;

shall prepare, maintain and retain sufficient records at the principal place of business as recorded in his certificate of registration to allow the Commissioner to readily ascertain the amount of tax due under this Act, and to explain all transactions, events and other acts engaged in by the person that are relevant for any purpose of this Act,:


PROVIDED that the dealer maintaining computerised books of accounts using a software should be able to readily provide soft and/or hard copy of the records at the principal place of business as recorded in his certificate of registration, as and when required by the Commissioner.

Explanation: The dealer may maintain and retain soft copy of the records
as means of compliance with the requirement of this sub-section.

(2) Notwithstanding the generality of sub-section (1) of this section

(a) every registered dealer shall preserve a copy of all tax invoices issued by him;

(b) every dealer shall preserve the original of all tax invoices received by him;


(c) every person who has paid an amount of tax, interest, penalty or other
amount owed under this Act, shall preserve a copy of the challan evidencing the making of the payment.

(3) The Commissioner may prescribe the manner and form in which accounts and records are to be prepared.

(4) If the Commissioner considers that such records are not sufficiently clear and intelligible to enable him to make a proper check of the obligations required of the person under this Act, he may require such person by notice in writing to keep such accounts (including records of purchase and sales) as may be specified therein.

(5) The Commissioner may, by notification in the official Gazette, direct any class of dealers, transporters or operators of warehouses to keep such accounts (including records of purchases and sales) as may be specified in the notification.

(6) Every person required to prepare or preserve records and accounts shall retain the required records and accounts for, at least, seven years after the conclusion of the events or transactions which they record unless any proceedings in respect of that year are pending in which case they shall be preserved till the final decision in those proceedings. Any loss thereof shall be reported to the Police and the Commissioner within a period of fifteen days from the date of occurrence.



Section 41 : Refund of tax for embassies, officials, international and public organizations

Section 42 : Interest

Section 43 : Recovery of tax

Section 44 : Application of the Delhi Land Reforms Act, 1954 for purposes of recovery

Section 45 : Continuation of certain recovery proceedings

Section 46 : Special mode of recovery

Section 46A : Provisional attachment to protect revenue in certain cases

Section 47 : Transfer of assets during pendency of proceedings void

Section 47A : Liability under this Act to be the first charge

Section 48 : Records and accounts

Section 49 : Accounts to be audited in certain cases

Section 50 : Tax invoices

Section 51 : Credit and debit notes

Section 52 : Liability in case of transfer of business

Section 53 : Liability in case of company in liquidation

Section 54 : Liability of partners of firm to pay tax

Section 55 : Liability of guardians, trustees etc

Section 56 : Liability of Court of Wards, etc

Section 57 : Liability in other cases

Section 58 : Audit

Section 58A : Special Audit

Section 59 : Inspection of records

Section 60 : Power to enter premises and seize records and goods

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