Recordkeeping obligations for jewellery dealers require daily separate records and multi-year preservation with electronic option. Assessees in jewellery must maintain a daily stock account with separate records for receipt and sale of manufactured and traded articles, including job worker receipts and first-time sales from registered premises, maintained on a weight and caratage basis; traded articles must record value at purchase. All such records are to be preserved for five years after the relevant financial year, and may be kept electronically if each page is authenticated by a digital signature.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Recordkeeping obligations for jewellery dealers require daily separate records and multi-year preservation with electronic option.
Assessees in jewellery must maintain a daily stock account with separate records for receipt and sale of manufactured and traded articles, including job worker receipts and first-time sales from registered premises, maintained on a weight and caratage basis; traded articles must record value at purchase. All such records are to be preserved for five years after the relevant financial year, and may be kept electronically if each page is authenticated by a digital signature.
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