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40 : Dealers to issue Acts, invoices or cash memoranda M.P. ACT

40 : Dealers to issue Acts, 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 bill, 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 .

(1A) The bill, invoice or cash memorandum pertaining to the goods notified by the State

Government, shall be authenticated in the prescribed manner.

(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 in respect of which such

contravention has taken place subject to a maximum of rupees five thousand.

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Who We Are

GST India Solution is an effort of firm of professionals who welcome implementation of GST. This is an interactiveplatformthat aspires to disseminate right knowledge to professionals, practitioners and public at large. This platform has beenfloatedbya firm of Chartered Accountants relentlessly working in field of direct and indirect taxes since early 1985.

Goods & Service Tax

Our core competence is statutory compliance, advisory, corporate tax planning and appellate matters of direct and indirect taxesandcorporate training sessions on GST.

The senior partner of the firm has to his credit several professional publications viz., Delhi Sales Tax Right to Use Goods Act, Delhi VAT, Maharashtra VAT, West Bengal VAT, Haryana VAT published by Taxmann. Madhya Pradesh VAT and Chhattisgarh VAT were published by Suvidha Law House, Bhopal. He has also addressed seminars on indirect taxes organized by professional bodies like ICAI, IMA, NIFM etc. and has also contributed articles on subjects of pro. . . . .