(1) Subject to the provisions of section 71, every dealer registered under the Act shall maintain his accounts according to the system of accounting prevailing in the trade and industry.
(2) Every dealer shall maintain a true and correct account of his purchases against VAT Invoices in Form VAT-07 and of his sales in Form VAT-08. The manufacturer shall also maintain a separate account of his purchases of capital goods against VAT Invoices, in part II of Form VAT-07.
(3) Where such dealer is a manufacturer, he shall maintain the stock of raw material(s) used in Form VAT-33, and that of manufactured goods in Form VAT-34.
(4) Every dealer shall also maintain separate accounts of transactions in the course of inter-State trade or commerce.
(5) Every dealer registered under the Act shall maintain separate accounts for exempted goods and so also for the goods taxable at different rates.
(6) The audit report required to be furnished by the dealer under sub-section (1) of section 73 shall be furnished within 2 ["ten months"] from the end of the relevant financial year, in the form as may be specified by the Commissioner.
3 [However the au