Period of preservation of accounts, books of account, registers by dealers.

90. (1) The accounts, books of accounts, registers, documents of the dealer including computerised or electronic accounts maintained on any computer or electronic media, way bills obtained by a dealer, counterfoils of way bills issued by a dealer, documents, declarations obtained by, or issued to such dealer, counterfoils of declarations issued by such dealer, invoices including tax invoices, cash memos in respect of purchases, sales, delivery of goods by a dealer, or vouchers in respect of any year or part thereof shall be preserved by him-

(a) for a period of not less than eight years after the expiry of the year to which they relate, or

(b) till such period as those may be required for final disposal of any appeal, review, revision or reference under the Act or for final disposal of any case pending before any Court or Tribunal or for ensuring full payment of any amount of tax, interest or penalty due under the Act in respect of such year or part thereof,

(c) for a period not less than four years after the expiry of specified period mentioned in the certificate of eligibility if the dealer continues to enjoy deferment of tax under clause (a) of sub-section (1) of section 118, whichever is later.

(2) Any breach of the provisions referred to in sub-rule (1) shall be punishable with a fine not exceeding five thousand rupees.