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(1)
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Forms #DVAT-30 and DVAT-31 have been amended. Dealers are
now required to maintain their records in a manner to provide details of purchases
and sales along with the description of goods and their codes.
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(2)
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Simultaneously, Return Forms DVAT-16 and DVAT-17 have been
amended. Dealers are now required to furnish details of purchases
and sales in Annexure 2A and 2B along with the description of goods and
their codes.
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Further, in respect
of sales made to unregistered dealers/persons, person-wise
details including their PAN shall also be furnished wherever
these details have been obtained by the seller in compliance to the
provisions contained under the Income Tax Act.
As per Rule 114B of
the #IncomeTaxRules, every person shall
quote his permanent account number (PAN), inter alia, in the following documents pertaining to the
transactions relating to sales and purchases:-
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Sl. No.
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Nature of
Transaction
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Value of
Transaction
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1.
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Sale or purchase of
a motor vehicle or vehicle, as defined in section 2(28) of the Motor
Vehicles Act, 1988, which requires registration by a registering authority
under Chapter IV of that Act, other than two wheeled vehicles.
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All such
transactions.
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2.
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Payment to a hotel
or restaurant against a bill or bills at any one time.
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Payment in cash of
an amount exceeding Rs. 20,000/-.
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3.
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Sale or purchase,
by any person, of goods or services of any nature other than those
specified above.
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Amount exceeding
Rs. 2 lacs per transaction
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