Download P Vat Form Vat-31


As per Punjab vat Rule 53. Maintenance of accounts by a person.—

(1) The following records may be maintained by a taxable person, which will include,-

(a) a monthly VAT 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 the State. Original tax invoices for purchases on which tax has been paid and invoices for purchases made without payment of VAT ,shall all be retained date wise ;

(c) sales records showing separately sales made at different tax rates, zero–rated taxable sales and tax-free sales and copies of VAT invoices related to taxable sales and invoices related to tax free sales ,shall be retained datewise 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 taxable person is making both taxable and tax free sales ;

(f) stock records showing stock receipts and dispatches and stock of manufactured goods ;

(g) order records and delivery challans, wherever applicable;

(h) annual accounts including trading, profit and loss accounts and the balance sheet ; and

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

(2) The following records , may be maintained by a registered person, namely :-

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

(b) cash book, daybook, ledger, invoice or bill books and purchase vouchers.

(3) Specimen of sale and purchase registers for taxable person and registered person which are available in Form VAT – 31-, Form VAT – 32, Form VAT – 33 and Form VAT–34, respectively. These specimens are provided to facilitate a person for proper maintenance of accounts. A person may, maintain account books as per his requirement and nature of business, but these shall contain the information as per aforesaid the specimen.

42. (1) Every taxable person, registered person, casual trader or any other person, who is required so to do by the Commissioner or the designated officer by notice served on him, shall keep a true account of the goods sold and purchased by him.

(2) If the officer referred to in sub-section (1), considers that the accounts kept are not sufficiently clear or intelligible to determine, whether or not a person is liable to pay tax during any period or the accounts are so kept as not to enable a proper scrutiny of the returns or the statements furnished, he may require such person by notice in writing to keep such accounts, including records of sales or purchases in such form or manner, as in his opinion are necessary for the purpose of proper assessment of tax.

(2) Every taxable person and registered person shall keep all his account books including those relating to his stock of goods or to purchases, sales and delivery of goods made by him or payments made or received, at the place or places of business, specified in his registration certificate or with the previous approval of the Commissioner or the designated officer at such other place or places, as may be allowed.

(3) Every person, shall produce all account books relating to his business, if so required by the designated officer, for the purpose of authentication in the manner as may be prescribed.

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