Accounts

Every dealer, whether registered or not, upon whom a notice to furnish returns has been served under sub-section (2) of section 7, shall keep a full and correct account of all forward contracts in respect of each class of transactions entered into by him; and if the assessing authority considers that such account is not sufficiently intelligible to enable him to make a proper assessment of the tax referred to in that sub-section, he may require the dealer by notice in writing to keep such accounts as may be prescribed. (1) The Government may, subject to the condition of previous publication, make rules for carrying out the purposes of this Act. (2) In particular and without prejudice to the generality of the foregoing power, such rules may prescribe— (a) the procedure for the payment of fees in respect of, and other matters incidental to, the registration of dealers or the grant of certificates of registration and the form of such certificates; (b) the intervals at which, and the manner in which the tax under this Act shall be payable under section 7; (c) the returns to be furnished under sub-section (2) of section 7, and the dates by which, and the authority to which, such returns shall be furnished; (d) the procedure to be followed for assessment under section 8; (e) the manner in which refunds under section 9 shall be made; (f) the accounts and forms thereof required by section 10; (g) conditions subject to which the Commissioner may delegate his powers under section 15; (h) ; (i) the manner in which appeals against assessment may be preferred under section 16; (j) the procedure for and other matters (including fees) incidental to the disposal of appeals and applications for revisions under sections 16 and 17; (k) the conditions under which offences may be compounded under section 19; (l) the manner in which, and the period within which, the applications shall be made, information furnished, and notices served under this Act. (3) In making any rule the Government may direct that a breach thereof shall be punishable with fine not exceeding five hundred rupees; and, when the offence is a continuing one, with a daily fine not exceeding twenty-five rupees during the continuance of the offence.