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PRESERVATION OF RECORDS IN ELECTRONIC

Service Tax - By: - Dr. Sanjiv Agarwal - Dated:- 7-5-2015 - form [Sub-rule (4) and (5) of Rule 5] Vide Notification No. 5/2015-ST dated 1.3.2015, sub-rules (4) and (5) have been inserted in Rule 5 of Service Tax Rules, 1994 providing an option of maintaining records in electronic form and their authentication by means of digital signature. Sub-rules(4) and (5) inserted in Rule 5 provide for as follows : (4) Records under this rule may be preserved in electronic form and every page of the record .....

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in the Information Technology Act, 2000 (21 of 2000) and the expression digitally signed shall be construed accordingly. Thus, new rules provide for as follows - Records can be preserved in electronic form The mode of maintaining records in electronic form is optional Every page of records preserved in electronic form shall be have to be authenticated by means of digital signature. CBEC shall specify the conditions, safeguards and procedure to be followed by assessees opting to preserve rec .....

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ronic record by affixing his digital signature. The authentication of the electronic record shall be effected by the use of asymmetric crypto system and hash function which envelop and transform the initial electronic record into another electronic record. As per Wikipedia, 'authentication' is an act of confirming the truth of an attribute of a single piece of data (datum) or entity. In contrast with identification which refers to the act of stating or otherwise indicating a claim purpo .....

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