MVAT Act 86अध्याय XIII · Miscellaneous

धारा 86 · Tax Invoice and Memorandum of sales or purchases

(1)

If a registered dealer sells any [goods, he may] [These words were substituted by the Maharashtra Value Added Tax (Levy and Amendment) Act, 2005, Section 47(1).] issue to the purchaser a tax invoice containing such particulars as are specified in sub-section (2) and retain a copy thereof for [eight years] [These words were substituted for the words 'three years' by Maharashtra 8 of 2012, Section 31(1), (w.r.e.f. 1-4-2005).] from the end of the year in which the sale took place.

(2)

The tax invoice issued under sub-section (1) shall contain the following particulars on the original as well as on all the copies thereof, -

(a)

the words "tax invoice" in bold letters at the top or at any prominent place,

(b)

the name, address and registration certificate number of the selling dealer [as well as the name, address and the registration certificate number of the purchasing dealer] [Substituted for the words 'as well as the name and address of the purchasing dealer' by The Maharashtra Tax Laws (Levy and Amendment) Act, 2010, Section 18, (w.e.f. 1-5-2010).],

(c)

an individual serialised number and the date on which the tax invoice is issued,

(d)

description of the goods, the quantity or as the case may be, number and price of the goods sold and the amount of tax charged thereon indicated separately, and

(e)

signed by the selling dealer, or his servant, manager or agent duly authorised by him.

(3)

[ When a dealer liable to pay tax under this Act, sells any goods to any person, he shall issue to the purchaser either a tax invoice or a bill or cash memorandum serially numbered, signed and dated by him or his servant, manager or agent and showing therein such other particulars as may be prescribed. He shall keep a counterfoil or duplicate of such bill or cash memorandum duly signed and dated, and preserve it for a period of [eight years] [[Sub-section (3) was substituted by by the Maharashtra 25 of 2007, Section 20 (w.e.f. 15-8-2007).Substituted sub-section as under:-

(3)When a registered dealer sells any goods, he may at his option Issue to the purchaser a bill or cash memorandum serially numbered, signed and dated by him or his servant, agent or manager and stating therein such other particulars as may be prescribed. He shall keep a counterfoil or duplicate of such bill or cash memorandum duly signed and dated and preserve it for a period of three years from the end of the year in which the sale took place. Where the said registered dealer Is issuing a bill or cash memorandum, he shall not collect tax separately on such sale.]] from the end of the year in which the sale took place:Provided that, where the value of the goods sold in a single transaction is rupees fifty or less, then it shall not be necessary to issue the said bill or cash memorandum.] [Inserted by Maharashtra Act No. 26 of 2018, dated 31.3.2018.]

(4)

[ Nothing contained in sub-section (1) or (2) shall apply to a dealer who is paying tax by way of composition under sub-section (1) or (2) of section 42.] [Sub-section (4) substituted by Maharashtra 14 of 2005, (w.e.f. 1-4-2005), Section 47(4).]

(5)

[ Any dealer may apply to the Commissioner to permit him to maintain the records of the bills or cash memorandum on such electronic system as may be approved by the Commissioner. On such permission being granted, the dealer shall stand exempted for the purposes of sub-section (3) regarding keeping counterfoils or duplicates of the said bills or cash memorandum and of signing the bill or cash memorandum] [[Sub-section (5) was substituted by Maharashtra 32 of 2006, Section 52, (w.e.f. 1-4-2005).Prior to its substitution read as under:

(5)The State Government may, by rules, provide for such electronic system as may be used, if necessary, In conjunction with such automatic data processing machines, as may be prescribed, for preservation of the details of the bill or cash memorandum for the purposes of sub-section (3) in such form and manner as may be approved by the Commissioner and any dealer may apply to the Commissioner to permit him, subject to such conditions, if any, as may be prescribed, to maintain the record of the bills or cash memoranda on such system. On such permission being granted, the dealer shall stand exempted for the purposes of said sub-section (3) regarding keeping counterfoils or duplicates of the said bills or cash memoranda and of signing the bill or cash memorandum.]],

(6)

[ A registered dealer, shall in respect of every sale made by him issue either a tax invoice or bill or cash memorandum as provided under sub-section (1) or (3).] [Sub-section (6) was added by the Maharashtra Value Added Tax (Levy and Amendment) Act, 2005, Section 47(5).]

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