(1)    A registered person making taxable supplies shall maintain and keep at his business premises or registered office in English or Urdu language the following records of goods purchased and supplies (including zero-rated and exempt supplies) made by him or by his agent acting on his behalf in such form and manner as would permit ready ascertainment of his tax liability during a tax period -

(a)    records of supplies made shall indicate the description, quantity and value of goods, name and address of the person to whom supplies were made and the amount of the tax charged;

(b)    records of goods purchased shall show the description, quantity and value of goods, name, address and registration number of the supplier and the amount of the tax on purchases;

(c)    records of zero-rated and exempt supplies;

(d)    invoices, credit notes, debit notes, bank statements, inventory records, utility bills, salary and labour bills, rental agreements, sale-purchase agreements and lease agreements; and

(e)    such other records as may be specified by the Board:

Provided that the persons paying turnover tax or retail tax shall keep such record as may be specified by the Board.

(2)    The Board may, by notification in the official Gazette, specify for any class of taxable persons or any other person registered under this Act to keep such other records for the purposes of this Act.

(2a)  The Board may, by notification in the Official Gazette, specify for any class of taxable persons registered under this Act to use such electronic fiscal cash registers as are approved by the Board in the manner as may be prescribed.

(3)    Where a person who is required to maintain records under this Act may keep the record on electronic data in such form and manner as may be approved by the Board.