40. Dealers to issue bills, invoices or cash memoranda.
(1)Every registered dealer, for each sale made by him shall issue to the purchaser, a bill, invoice or a cash memorandum including machine generated bill, invoice or a cash memorandum signed and dated by such dealer containing prescribed particulars including the amount of tax collected. Every such dealer shall also maintain a counterfoil or duplicate of each hill, invoice or cash memorandum issued by him with signature, date and all other aforesaid particulars and shall preserve it for a period of not less than five years from such date or till the completion of assessment whichever is earlier :Provided that a bill, invoice or cash memorandum may not be issued where sale of any goods of value not exceeding rupees one hundred is made to any person other than a registered dealer.[(1-A) The bill, invoice or cash memorandum pertaining to the goods notified by the State Government, shall be authenticated in the prescribed manner.] [Inserted by M.P. Act No 26 of 2007.](2)If a registered dealer contravenes the provisions of sub-section (1), the Commissioner may, after giving such dealer an opportunity of being heard, direct him to pay by way of penalty a sum of rupees one hundred for each sale m respect of which such contravention has taken place subject to a maximum of rupees five thousand.
