Section 38. Accounts

CHAPTER VII LIABILITY TO PRODUCE ACCOUNTS AND SUPPLY OF INFORMATION 38. Accounts.— (1) Every dealer liable to pay tax under this Act, and every other dealer on whom a notice has been served to furnish returns under sub-section (2) of section 21 shall keep at his place of business a true account of the value of goods bought and sold by him, and if the Commissioner considers that such account is not sufficiently clear and intelligible to enable him to make a proper check of the returns referred to in that sub-section, he may require such dealer by notice in writing to keep such accounts (including records of purchases and sales) and as may be specified therein. (2) The Commissioner may, by notification in the Official Gazette, direct any class of registered dealers generally to keep such accounts (including records of purchases and sales) as may be specified in the notification subject to such conditions and restrictions as may be prescribed. 39. Memoranda of sales.— If a registered dealer— (a) sells goods to another registered dealer, or - (b) makes sales in the course of inter-State trade or commerce, or (c) sells any goods exceeding ten rupees in value in any one transaction to any other person, he shall issue to the purchaser a bill or cash memorandum serially numbered, signed and dated by him or his servant, manager or agent and showing therein his name and address and such other particulars as may be prescribed and he shall keep a duplicate or copy of such bill or cash memorandum duly signed and dated and preserve it for a period of not less than five years from the end of the year unless any proceedings in respect of that year are pending in which case they shall be preserved till the final decision in those proceedings: Provided that if in respect of any goods or class of goods or any dealers or class of dealers, the Administrator is of the opinion that it is not practicable to issue any bills or cash memoranda for sale of goods exceeding ten rupees in value in any one transaction to any other person, he may, by notification in the Official Gazette,— (i) specify such amount exceeding ten rupees in value as the amount for the issue of such bills or cash memoranda; (ii) exempt such goods or class of goods or dealers or class of dealers from the operation of this section.