Maintenance of records requires detailed input and capital goods accounting and periodic filing to ensure tax compliance. Rule 9 of the CCR obliges manufacturers, output service providers and input service distributors to maintain records of receipt, consumption and inventory of inputs and capital goods showing value, duty paid and the person from whom purchased, and to submit periodic returns-monthly for general registrants and quarterly for small scale units-to enable reconciliation and statutory compliance.
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Provisions expressly mentioned in the judgment/order text.
Maintenance of records requires detailed input and capital goods accounting and periodic filing to ensure tax compliance.
Rule 9 of the CCR obliges manufacturers, output service providers and input service distributors to maintain records of receipt, consumption and inventory of inputs and capital goods showing value, duty paid and the person from whom purchased, and to submit periodic returns-monthly for general registrants and quarterly for small scale units-to enable reconciliation and statutory compliance.
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