(1) A dealer requiring to furnish statement of trading stock and raw material under clause (c) of sub-section (1) of section 20 shall furnish the same in Form DVAT 19 within seven days of his registration taking effect.

 

(2) No input tax credit shall be allowed on the trading stock or raw materials held by a dealer who is registered or re-registered at the time when such registration or re-registration takes effect, unless the dealer has in his possession adequate proof of the amount of input tax paid in the form of a tax invoices issued by a registered dealer to the dealer claiming the tax credit.