(3)Where a registered dealer contravenes the provisions of sub-Section (1), the assessing authority may either on receipt of any complaint in this behalf or otherwise, after giving such dealer a reasonable opportunity of being heard, direct him to pay by way of penalty a sum equal to five times the amount of tax leviable on the sale in respect to which a bill or cash memorandum has not been issued, or rupees five hundred, whichever is higher.".
