Accounts to be maintained by dealers.- (1)

1[Every person registered or licensed under this Act and every dealer or other person liable to get himself registered under this Act shall keep and maintain true and correct accounts and such other records as may be prescribed] in Kannada or English or Hindi or Marathi or in such other language as the State Government may by notification specify,

1[relating to his business, showing

¹ Substituted by Act 9 of 1964 w.e.f. 1.4.1964.

such particulars as may be prescribed, and such particulars may be different for different classes of persons or dealers;] and in case the accounts maintained in the ordinary course, do not show the same in an intelligible form, he shall maintain a true and correct account in such form as may be prescribed in this behalf:

¹ Omitted by Act 7 of 1966 w.e.f. 1.4.1966.

1[Proviso x x x]

1. (2) The Commissioner may, subject to such conditions or restrictions as may be prescribed in this behalf, by notice in writing direct any dealer or by notifications direct any class of dealers to maintain accounts and records showing the details regarding their purchases, sales or deliveries of goods in such form and in such manner as may be specified by him. 1[26-A. Audit of account.- Every dealer whose total turnover in a year exceeds fifty lakh rupees shall get his accounts audited by a Chartered Accountant 2[or a Sales Tax Practitioner subject to the prescribed limits] and shall submit to the assessing authority a copy of the audited statement of accounts and certificates in the prescribed manner.]

¹ Inserted by Act 18 of 1994 w.e.f. 1.4.1994.

² Inserted by Act 18 of 1999 w.e.f. 1.9.1999 by notification.