Payment Voucher

Under

Goods and Service Tax, the different transaction involves the issuance of different vouchers/invoices. One such voucher, newly introduced in GST, is Payment Voucher. Present article tries to cover the question with regard to payment voucher-like in which situation payment voucher is to be issued and particulars/details which need to be included in Payment Voucher format.

Issuance of Payment Voucher

As per section 31 (3) (g) of the

Central Goods and Service Tax Act, 2017, a registered person who is liable to pay tax under section 9 (3) or section 9 (4) i.e. under reverse charge basis is required to issue a Payment Voucher at the time of making payment to the supplier. In nut-shell, registered person who is liable to pay tax under reverse charge basis, for supplies wherein tax is payable on reverse charge basis and supplies which has been received from the unregistered person, is required to issue payment voucher and such Payment Voucher is to be issued at the time of making payment to the supplier.

Particulars in Payment Voucher

Rule 52 of the Central Goods and Service Tax Rules, 2017 contains details/particulars which are required to be provided in Payment Voucher and the same are listed herein below –

Name, Registered address and Goods and Service Tax Identification Number (GSTIN) of the registered supplier;
Consecutive Serial number;
Date of issue;
Name, Registered address and Goods and Service Tax Identification Number (GSTIN) of the registered recipient;
Description of goods/services;
Amount paid;
The rate of Central / State / Union Territory tax or cess;
Amount of tax payable in respect of taxable goods or services;
Place of supply along with the State name and State code, in case of inter-state trade or commerce;
A signature / digital signature of supplier / authorized representative of the supplier.

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Frequently Asked Questions

Common questions about Payment Voucher Under GST.

As per the Central Goods and Service Tax Act, 2017, a registered person who is liable to pay tax under reverse charge basis, i.e., under section 9(3) or section 9(4), is required to issue a payment voucher at the time of making payment to the supplier. This applies to supplies where tax is payable on a reverse charge basis and supplies received from an unregistered person.

Rule 52 of the Central Goods and Service Tax Rules, 2017 specifies the details that must be included in a payment voucher. These include the name, registered address, and GSTIN of the registered supplier and recipient, a consecutive serial number, date of issue, description of goods/services, amount paid, tax rates, amount of tax payable, place of supply with state name and code (for interstate trade), and the signature/digital signature of the supplier or authorized representative.

No, the requirement to issue a payment voucher applies only to registered persons who are liable to pay tax under reverse charge basis, as specified in sections 9(3) and 9(4) of the Central Goods and Service Tax Act, 2017. For other transactions, the registered person may issue a tax invoice or another appropriate document as per GST rules.

According to the Central Goods and Service Tax Act, 2017, a payment voucher should be issued at the time of making payment to the supplier for supplies where the registered person is liable to pay tax under reverse charge basis.

No, a payment voucher must include the GSTIN (Goods and Service Tax Identification Number) of both the registered supplier and the registered recipient. This is a mandatory requirement as per Rule 52 of the Central Goods and Service Tax Rules, 2017.

Yes, for inter-state trade or commerce, it is mandatory to mention the place of supply along with the state name and state code on the payment voucher, as per Rule 52 of the Central Goods and Service Tax Rules, 2017.

No, a payment voucher must include a description of the goods or services for which it is being issued. This is a mandatory requirement as per Rule 52 of the Central Goods and Service Tax Rules, 2017.

The payment voucher must be signed or digitally signed by the supplier or an authorized representative of the supplier, as specified in Rule 52 of the Central Goods and Service Tax Rules, 2017.

The Central Goods and Service Tax Rules, 2017 specify the mandatory details that must be included in a payment voucher, but there is no prescribed format as such. Registered persons can design their own payment voucher format as long as it includes all the required particulars mentioned in Rule 52.

The article does not explicitly mention the issuance of payment vouchers for advance payments. However, as per the GST Act and Rules, a payment voucher is required to be issued at the time of making payment to the supplier for supplies where the registered person is liable to pay tax under reverse charge basis.