Section 48(1) in Daman and Diu Value Added Tax Regulation, 2005
(1)Every -(a)dealer; and(b)person on whom a notice has been served to furnish returns under section 27,shall prepare and retain sufficient records to allow the Commissioner to ascertain the amount of tax due under this Regulation, and to explain all transactions, events and other acts engaged in by the person that are relevant for any purposes of this Regulation.
