30E. Statements, accounts or declarations to be furnished by registered dealers and penalty for non- furnishing the same
(1)Every registered dealer shall, in the manner as may be prescribed, submit before the prescribed authority such statements, accounts or declarations within such time as may be prescribed and shall verify that such statements, accounts or declarations are true to the best of his knowledge and belief.
(1A) Every registered dealer, other than Public Limited company Private Limited Company registered under the Companies Act, 1956(1 of 1956), whose turnover of sales including stock transfer outside the State or contractual transfer price or both or turnover of purchases including stock transfer into the State exceeds rupees ten crore in a year shall, within such date as may be prescribed, submit before the prescribed authority P & L Account and Balance Sheet for such year , along with the audit report of a Chartered Accountant within the meaning of the Chartered Accountant Act, 1949(38 of 1949), or a Cost Accountant within the meaning of the Cost and Works Accountant Act,1956(23 of 1959) , in the prescribed form .
(1B) Every registered dealer, being a Public Limited company pr Private Limited Company registered under the Companies Act, 1956, shall, within such date as may be prespriced , submit before the prescribed authority a copy of the audited P & L Account and Balance Sheet for such year , along with the audit report of any Chartered Accountant within the meaning of the Chartered Accountant Act. 1949 (38 of 1949), or any Cost Accountant within the meaning of the Cost and Works Accountant Act. 1959 (23 of 1959), in the prescribed form.
(1C) Every registered dealer, other than those mentioned in sub-section (lA) or sub-section (ffi), who are required to get his accounts audited under the provision of the Income Tax Act, 1961, shall, within such date as may be prescribed, submit a copy of the audit report as required to be furnished under that Act together with a copy of the Profit and Loss Account and Balance Sheet for such year.
(2) If registered dealer fails to submit statements, accounts, audit reports or declarations, as the case may be, referred to in sub-section, sub-section (1A) or sub-section (1B), he shall be liable to pay a penalty not exceeding rupees five thousand for each default , in the manner as may be prescribed.
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