GST Receipt Voucher is a formal document that has to be issued by a registered taxpayer as an evidence for advance payment received against the supply of goods and/or services. It is mandatory for a GST registered person to produce a Receipt Voucher when he receives advance payment from his customer. The receipt voucher should only be issued in a prespecified format as mentioned below. The registered supplier is also required to pay GST on the advance payment received.

GST Receipt Voucher Format

The GST receipt voucher format should contain the following details:

• Supplier’s GSTIN, Name and address
• Serial number for that particular advance payment receipt (unique for a financial year)
• Date of issue
• Recipient’s Name, address and GSTIN (if registered under GST)
• Description of goods and/or services to be supplied
• Advance amount paid
• GST (IGST, CGST, SGST) rates applicable to the transaction
• Total amount of tax charged on taxable goods or services
• Place of supply along with the State’s name and code for inter-state supplies
• Mention if the tax is payable on reverse charge basis
• Signature/ Digital signature of the supplier or his authorized representative

GST on Advance Payment

GST tax is applicable on the advance payment made for future supplies. The receipt voucher should contain the information of the GST rate and tax amount applicable on that particular transaction. This tax amount is to be deposited with the government. In case if the rate of tax is not determinable at the time of advance payment, GST is to be paid at the fixed rate of 18%.

In case if the nature of the supply (interstate or intrastate) is not determinable during the receipt of advance, the supply should be deemed as interstate supply and IGST is to be levied.

Refund Voucher Format Under GST

Refund voucher is a special voucher that is required to be generated and issued by the registered taxpayer when and if the advance payment is refunded and no supply is made.

Revised Refund Rules in PDF

The GST refund voucher format should be made according to the following format.

• Supplier’s GSTIN, Name and address
• Serial number for that particular refund receipt (unique for a financial year)
• Date of issue
• Recipient’s Name, address and GSTIN (if registered under GST) or Place of Supply (if not GST registered).
• Name (serial number) and date of receipt voucher
• Description of goods and/or services to be supplied
• Refund amount paid
• GST (IGST, CGST, SGST) rates applicable to the transaction
• Total amount of tax charged
• If tax was paid on reverse charge basis
• Signature/ Digital signature of the supplier or his authorised representative

How to generate GST Receipt Voucher/ Refund Voucher?

You can use Gen GST Software to generate any number of GST compliant receipt vouchers and refund vouchers or any other GST voucher and bills.