. (1) Every registered dealer, other than those enjoying composition under sub-section (3) of section 16 or sub-section (4) of section 18 or a shipper of jute, shall, in his input tax account, record tax paid or payable on purchases as referred to in clause (18) of section 2.
(2) Every dealer, required to furnish return under sub-section (1) of section 32, shall, in his output tax account record-
(a) tax paid or payable on turnover of sales under sub-section (2) of section 16;
(b) tax paid or payable on turnover of sales under sub-section (3) of section 16;
(c) tax paid or payable on taxable contractual transfer price as referred to in subsection (1) of section 18;
(d) tax paid or payable on contractual transfer price as referred to in sub-section (4) of section 18;
(e) purchase tax payable under section 11 and under section 12.
(3) Every registered dealer, to whom input tax credit is available, shall, for the purpose of determining net tax credit for a tax period, referred to in sub-section (17) of section 22, record the following in the input tax credit account -
(a) input tax on which credit is available;
(b) outstanding input tax credit of the previous tax period;
(c) credit availed which has to be reversed.
(4) Every dealer, required to furnish return under sub-section (1) of section 32, shall maintain way bills received and documents, vouchers, tax invoices, invoices, bills or cash memos, counterfoils of way bills issued by him, as may be required in support of any entry in his accounts, registers, documents including those in the form of electronic records, that he is required to maintain under section 63.
(5) Every dealer required to furnish return under sub-section (1) of section 32, shall maintain accounts relating to the quantity and value of goods purchased, or manufactured, or sold, or used in execution of works contract, or held in stock in accordance with the accepted principles, and which should be consistent with the method or system earlier followed by him:
Provided that where a dealer intends to change the method or system being followed by him, he shall inform the Commissioner or assessing authority beforehand.