(1)Every registered dealer making a taxable sale to another registered dealer shall provide that purchaser at the time of sale with a tax invoice containing such particulars as specified in sub-section (2), and retain a copy thereof(2)The tax invoice shall not be issued by a dealer in the following circumstances when the sale is made,-(a)to a registered dealer who has been permitted for composition of tax under section 15 in lieu of VAT, or(b)in the course of export out of the territory of India; or(c)in the course of inter State trade and commerce; or(d)in respect of goods exempt from tax as per schedule.(3)Not more than one tax invoice shall be issued for each taxable sale.(4)The tax invoice issued under sub-section (1) shall contain the following particulars on the original as well as copies thereof -(a)the word ' Tax Invoice' in bold letter at the top or any prominent place;(b)the name, address and registration certificate number of the selling registered dealer;(c)the name, address and registration certificate number of the purchasing registered dealer;(d)an individual serialized number and the date on which the tax invoice is issued;(e)description, quantity, volume and value of goods sold and amount of tax charged thereon indicated separately;(f)signature of the selling dealer or his employee, manager or agent, duly authorized by him.(g)the name and address of the printer, and first and last serial number of tax invoices printed and supplied by him to the dealer;(5)Except when tax invoice is issued under sub-section (1), if a registered dealer sells any goods exceeding such amount in value as may be prescribed, in any one transaction to any person, he shall issue to the purchaser a retail invoice and retain a copy thereof.(6)The retail invoice shall contain the following particulars on the original as well as copies thereof, -(a)the words 'Retail Invoice' or 'Cash Memo' or 'Bill' in bold letters at the top or in a prominent place ;(b)the name, address and registration certificate number of the selling registered dealer ;(c)in case the sale is in course of export out of the territory of India, the name, address and registration number, if any, of the purchasing dealer/ foreign buyer and the type of statutory form, if any, against which the sale has been made ;(d)an individual serialized number and the date on which the retail invoice is issued ;(e)description, quantity volume and value of goods sold inclusive of tax, charged thereon ;(f)signature of the selling dealer or his employee, manager or agent, duly authorized by him ;(g)the name and address of the printer, and last serial number of retail invoices printed and supplied by him to the dealer.(7)Tax invoice shall be issued in triplicate, The original and the first copy shall be issued to the purchaser or the person taking delivery of the goods, as the case may be, and the second copy shall be retained by the selling dealer.(8)Retail invoice shall be issued in duplicate. The original shall be issued to the purchaser and the duplicate copy shall be retained by the selling dealer.(9)Every dealer referred to in sub-section (1) shall preserve books of account including tax invoices and retail invoices until the expiry of five years after the end of the year to which they relate or for such other period as may be prescribed or until the assessment reaches its finality whichever is later.(10)Where such dealer is party to any appeal, or revision under this Act, he shall retain, until the appeal or revision is finally disposed of, every record and accounts that pertain to the subject matter of the appeal or revision.
