Memorandum of sales or purchases

If any dealer liable to pay tax under the Act,—

1. (a) sells goods to a Registered dealer, or
2. (b) effects sales in the course of inter-State trade or commerce, or in the course of export, or (c)
   • (i) being a manufacturer or importer, sells any goods of sale price exceeding ten rupees in any one transaction to any other person, or
   • (ii) being a reseller with a turnover exceeding one lakh rupees in the previous year sells in the current year any goods of sale price exceeding ten rupees in any one transaction to any other person, he shall issue to the purchaser a bill or cash memorandum serially numbered, signed and dated by him or his servant, manager or agent, and showing therein his name and address and such other particulars as may be prescribed. He shall keep a duplicate copy of such bill or cash memorandum duly signed and dated and preserve it for a period of not less than six years from the end of the year, unless any proceedings in respect of that year are pending in which case they shall be preserved even beyond the period of six years till the final decision in those proceedings : Provided that, if in respect of any goods or class of goods or any dealers or class of dealers, the Commissioner is of the opinion that it is not practicable to issue any bills or cash memoranda for sale of goods of sale price exceeding ten rupees in any one transaction to any other person, he may, by notification in the Official Gazette,—
   • (i) specify such amount of sale price exceeding ten rupees for the issue of such bills or cash memoranda;
   • (ii) exempt such goods or class of goods, or dealer or class of dealers, from the operation of clause (c) of this section as may be specified in the notification.