Provided further that any clarification issued at the instance of an importer or a body of importers shall be binding on the Commissioner.

Maintenance of accounts by importers, issue of cash bill or cash memorandum

1. (1) Every importer registered under this Act and every importer who is liable for registration shall maintain and keep true and complete accounts of his business in such form and manner as may be prescribed in this regard. All such accounts, registers or records shall be retained by the importer for the period till the assessment for the relevant year is completed or in cases where any appeal, revision, reference or other proceedings in respect of such year has been filed and is pending, the same is disposed of, or for a period of at least six years from the end of the year to which these relate, whichever is later.
2. (2) Every importer shall, and every importer whose application for registration under this Act is pending with the assessing authority shall, save as specified in sub-section
3. (3) of this section, issue -
   • (i) in respect of all goods sold by him, a bill of sale or cash memorandum, as the case may be;
   • (ii) in respect of goods he wishes to despatch by way other than by way of sale, a delivery note;
   • (iii) in respect of goods purchased by him in respect of which the importer has not received any bill of sale or cash memorandum, a purchase invoice;
   • (iv) in respect of goods bought or received by him and in respect of which the consignor has not issued a delivery note, a bill of sale or a delivery note.
4. (3) Every such bill of sale, cash memorandum, purchase invoice, delivery note, shall be dated and signed by the person as specified in clause
   • (b) of this clause, address including address of additional place of business, telephone number, Tax number, E-mail address, web site address etc., if any, Registration number, if any, all information required to be provided and printed on the document or the Department, and full description, quantity and value of the goods so sold, received, or bought as also shall keep the carbon copy of such bill of sale, cash memorandum or delivery note with all and retain it in his custody for the period mentioned in sub-section
5. (1) : Provided further that a cash memorandum or bill of sale, as the case may be, shall be issued to every customer, on demand, even though the value of goods sold to him does not exceed five hundred rupees.
6. (4) Every document required to be issued or used as per sub-section (2), shall be serially numbered or printed before being used and the importer shall, from time to time, keep the assessing authority posted with the information relating to series of serial numbers of such documents in use.