Accounts

3[(1) Every registered dealer or other dealer on whom a notice has been served to furnish returns under 4[sub-section (3)] of section 10, shall keep a true account of the value of goods bought and sold by him, and if the Assessing Authority considers that such account is not sufficiently clear and intelligible to enable him to make a proper check of the returns referred to in that sub-section he may require such dealer by notice in writing to keep such accounts including records of sales 5[as he may subject to anything that may be prescribed in that behalf in writing direct.]] 1

1. (2) Every registered dealer shall,—
   • (a) in respect of goods, exceeding ten rupees in value in any one transaction, sold by him or on his behalf, issue to the person to whom they are sold, a cash memorandum or bill serially numbered bearing the name and address of the dealer, the date of sale and the signature of such dealer or his servant, manager or agent and showing the particulars of goods so sold and the price thereof; and
   • (b) preserve a carbon copy of such cash memorandum or bill for a period of not less than five years from the date of issue thereof: Provided that the State Government may by notification exempt any class of registered dealers from the provisions of this sub-section.
2. (3) Where any dealer contravenes the provisions of sub-section
3. (1) or sub-section (2), the Commissioner or any person appointed to assist him under sub-section
4. (1) of section 3 may, after affording such dealer a reasonable opportunity of being heard, impose upon him a penalty which may extend to five hundred rupees.]