Account maintenance for notified goods requires true and complete records of possession, transfer, and manufacture use. Persons who own, possess, control or acquire notified goods must maintain a true and complete account in the prescribed form and manner, updating it on every acquisition or transfer and recording the relevant particulars of the person from whom the goods were obtained or to whom they were transferred. The account must be kept with the goods at the place of storage, and separate accounts are not required where existing accounts already contain the prescribed particulars. A person using notified goods in manufacture must also maintain a true and complete account of the goods so used at the intimated place.
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.
Account maintenance for notified goods requires true and complete records of possession, transfer, and manufacture use.
Persons who own, possess, control or acquire notified goods must maintain a true and complete account in the prescribed form and manner, updating it on every acquisition or transfer and recording the relevant particulars of the person from whom the goods were obtained or to whom they were transferred. The account must be kept with the goods at the place of storage, and separate accounts are not required where existing accounts already contain the prescribed particulars. A person using notified goods in manufacture must also maintain a true and complete account of the goods so used at the intimated place.
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