Gst Receipt Voucher Format

GST receipt voucher is a commercial document and evidence for advance payment for the supply of goods or services. Entities

registered under GST must issue a GST receipt when advance payment is received from a customer. In this article, we look at Gst Receipt Voucher Format in detail.

Gst Receipt Voucher Format

Whenever a person registered under GST receives an advance payment for supply of any goods or services, a GST refund voucher has to be issued with the following details:

Name, address and GSTIN of the supplier.
Consecutive serial number not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special characters-hyphen or dash and slash, unique for a financial year.
Date of its issue of receipt voucher.
Name, address and GSTIN of the person making an advance payment, if registered. If the person making an advance payment is not registered under GST, then name, address and state of supply.
Description of goods or services (deliverable)
Amount of advance paid.
Rate of tax (CGST, SGST, IGST and Cess) applicable on the transaction.
Amount of tax charged in respect of taxable goods or services shown under heads such as CGST, SGST, IGST and GST Compensation Cess.
Place of supply along with the name of the state and its code, in case of an inter-state supply.
If tax is payable on the reverse charge basis
Signature or digital signature of the supplier or his authorised representative.

Calculating GST on Advance Received

While taking an advance payment, 1 and amount of tax chargeable must be mentioned on the receipt voucher. On payment of the advance, the concerned individual shall deposit the GST collected to the Government. However, if the rate of tax is not determinable, then the tax should be calculated and paid at the rate of 18%. Also, if the nature of supply, i.e., interstate supply or intra-state supply is not determinable, then the supply should be treated as interstate supply and IGST would be applicable.

Refund Receipt - Refund of Advance Payment

In case of a refund of the advance payment and nil supply, the taxpayer can issue a refund voucher. The taxpayer shall create the refund in the following format and must contain the following information mandatorily:

Name, address and GSTIN of the supplier.
A consecutive serial number for refund receipt not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special characters-hyphen or dash and slash, unique for a financial year.
Date of its issue of refund receipt.
Name, address and GSTIN of the recipient, if registered under GST. In case the recipient is not registered under GST, then name, address and place of supply.
Number and date of receipt voucher.
Description of goods or services in respect of the refund
The amount of refund made.
Rate of GST tax charged on the transaction like CGST, SGST, IGST and GST Cess.
Amount of GST tax paid by the recipient.
If the reverse charge was applicable.
Signature or digital signature of the supplier or his authorised representative.

You can read more in the

Comprehensive Guide to GST Invoices and Format and GST Bill of Supply.

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Frequently Asked Questions

Common questions about GST Receipt Voucher Format for Financial Transactions.

A GST receipt voucher is a commercial document that serves as evidence of an advance payment received for the supply of goods or services. Entities registered under GST must issue a GST receipt voucher whenever they receive an advance payment from a customer.

The GST receipt voucher must contain the following details: supplier's name, address, and GSTIN; a unique serial number; date of issue; customer's name, address, and GSTIN (if registered); description of goods or services; amount of advance paid; applicable tax rates (CGST, SGST, IGST, and Cess); tax amount; place of supply; and the supplier's signature or digital signature.

When receiving an advance payment, the GST rate and the amount of tax chargeable must be mentioned on the receipt voucher. The concerned individual shall deposit the GST collected to the government. If the rate of tax is not determinable, then the tax should be calculated and paid at the rate of 18%. If the nature of supply (interstate or intrastate) is not determinable, it should be treated as an interstate supply, and IGST would be applicable.

A refund receipt is issued when there is a refund of an advance payment and nil supply. The taxpayer can issue a refund voucher containing details like the supplier's and recipient's information, the original receipt voucher number and date, a description of the goods or services, the refund amount, and the GST amount paid by the recipient.

The following information is mandatory on a refund receipt: the supplier's name, address, and GSTIN; a unique serial number; date of issue; recipient's name, address, and GSTIN (if registered); the original receipt voucher number and date; a description of the goods or services; the refund amount; the GST tax rates; the GST tax amount paid by the recipient; and the supplier's signature or digital signature.

Yes, a GST receipt voucher can be issued for advance payments received for the supply of either goods or services. The voucher should clearly mention the description of the goods or services for which the advance payment is being made.

Yes, it is necessary to mention the place of supply along with the name of the state and its code in case of an inter-state supply on the GST receipt voucher.

If the person making the advance payment is not registered under GST, then their name, address, and state of supply should be mentioned on the GST receipt voucher instead of the GSTIN.

The serial number on a GST receipt voucher should not exceed sixteen characters and can contain alphabets, numerals, or special characters like hyphens, dashes, and slashes. It should be unique for a financial year.

Yes, a GST receipt voucher can be digitally signed by the supplier or their authorized representative instead of a physical signature.