56. Declaration of Opening Stock

(1) Every dealer holding stock of any goods on the appointed date shall furnish to the authority specified in rule 62 details of such stock in Form D-II within 45 days of the appointed date.

(2) If a dealer required to furnish the declaration in Form D-II fails to furnish the details of opening stock as required under sub-rule(1), he shall not be entitled to I.T.C. on the opening stock under clause(d) of sub-section(1) of section 16.