Payment Voucher

Payment Voucher

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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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