Record-keeping obligations require preserved, authenticated private records and specified returns, with electronic records subject to audit access. Every assessee must maintain private records of receipts, purchases, manufacture, storage, removals and inputs/capital goods with source documents, preserve them for five years, and authenticate specified books; non maintenance of the Daily Stock Account or other required records attracts penal action and stronger penalties where evasion is intended. Assessees must file monthly or quarterly consolidated returns (E.R.-1/E.R.-3) detailing production, removals and CENVAT credit, and may maintain records electronically provided backups, monthly printouts, audit trails and production of authenticated electronic or hard copies on demand are ensured.
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.
Record-keeping obligations require preserved, authenticated private records and specified returns, with electronic records subject to audit access.
Every assessee must maintain private records of receipts, purchases, manufacture, storage, removals and inputs/capital goods with source documents, preserve them for five years, and authenticate specified books; non maintenance of the Daily Stock Account or other required records attracts penal action and stronger penalties where evasion is intended. Assessees must file monthly or quarterly consolidated returns (E.R.-1/E.R.-3) detailing production, removals and CENVAT credit, and may maintain records electronically provided backups, monthly printouts, audit trails and production of authenticated electronic or hard copies on demand are ensured.
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