(1) A registered person shall keep records of the following information, documents and details for the purposes of the Act and these regulations:-
(a) Notices as per Schedule- 7,
(b) Records relating to business, accounting, cash receipts and payments,
(c) Tax invoices and summary tax invoices issued by him,
(d) Tax invoices and summary tax invoices received by him,
(e) all documents relating to imports and exports carried out by him,
(f) All debit and credit notes and other related documents proving the decrease in the price of goods and services purchased and sold by him,
(g) Purchase and sale accounts as mentioned in Schedule-8 and Schedule-9,
(2) Notwithstanding anything written in sub-rule (1), the department may prescribe that only the registered person shall keep any of the records mentioned in the said sub-rule as records for the purpose of a particular type of trade or business.
(3) The registered person may keep the records required to be kept according to this rule by taking the permission of the department using a computer or other similar mechanical system or by adopting the method prescribed by the department.
(4) The records kept by the person registered in accordance with this rule may be viewed by the tax officer at any time during business hours. Explanation: For the purpose of this rule, "business hours" means the period between the opening and closing time of business excluding public holidays.
(5) According to sub-rule (4), the registered person shall print and provide at his own expense the details and documents related to the records requested by the tax officer in the course of checking the records.
(6) According to sub-rule (4), the duty of the registered person shall be to provide the necessary personnel to assist the tax officer in checking the records.
(7) The records kept according to this rule shall be kept safe for 6 years by the registered person.