72. Registered dealers to issue VAT invoice

(1) A registered dealer, other than that who opts for payment of tax under sub–section (2) of section 3 or section 5 shall issue for each sale, except the sale of exempted goods, made by him, a VAT invoice in such manner as may be prescribed.

(2) Where any dealer, contravenes the provisions of sub–section (1), the assessing authority or the officer authorised by the Commissioner may, after giving such dealer a reasonable opportunity of being heard, direct him to pay by way of penalty a sum equal to double the amount of tax leviable on the sale of goods in respect of which an invoice has not been issued.