Section 43 in The M.P. Vanijyik Kar Adhiniyam, 1994
43. Certain dealers to issue bills or cash memoranda.
(1)Every dealer whose turnover exceeds one lac and fifty thousand rupees in any year shall, for each sale made by him of goods exceeding rupees one hundred in value, in the next succeeding year, issue to the purchaser, a bill or a cash memorandum signed and dated by such dealer or his servant, manager or agent showing such particulars as may be prescribed. Every such dealer shall also maintain a counterfoil or duplicate of each bill 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 the Commissioner may, subject to such conditions and restrictions as he may deem fit to impose, exempt any dealer or class of dealers in respect of sale of any goods or class of goods from issuing a bill or a cash memorandum to the purchaser or from showing some of the particulars or from maintaining a counterfoil or duplicate of each bill or cash memorandum issued by him.(2)If any person to whom sub-section (1) applies, contravenes the provisions of the said sub-section the Commissioner, may, after giving such person a reasonable opportunity of being heard, direct him to pay a penalty not exceeding double the amount of the bill or the cash memorandum in respect of which such contravention has occurred or rupees fifty whichever is less subject to a maximum of rupees five thousand in a year.(3)[ Every registered dealer, who in the course of his business sells any goods specified in Schedule II, which have been manufactured by an industrial unit in respect of which such unit is availing the facility of exemption from payment of tax in whole under any notification issued under the Act repealed by this Act or under this Act, in pursuance of any scheme of the State Government, shall issue to the purchaser a bill, invoice or cash memo specifically stating in such manner as may be prescribed, that the goods being sold are the goods manufactured Dy an industrial unit availing the facility of exemption from payment of tax in whole and no tax has been paid on such goods.(4)Where the goods mentioned in sub-section (3) are purchased and sold in the course of their business by chain of registered dealers, the selling registered dealer shall issue a bill, invoice or cash memo, containing the statement referred to in sub-section (3).(5)Every registered dealer referred to in sub-sections (3) and (4) shall maintain a separate account of purchases and consumption, use or sale of goods referred to in sub-section (3).(6)Where a registered dealer referred to in sub-section (3) or sub-section (4) has failed to make the statement referred to in sub-section (3), it shall be presumed, unless the contrary is proved by him, that he has facilitated the evasion of tax on the sale of such goods and accordingly he shall be liable to pay penalty equal to two times the amount of tax payable on such goods.] [Inserted by MP Commercial Tax (Second Amendment) Act, 1996, w.e.f. 1-4-1995.]
