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Advance receipt

21 April 2020

In case of advance receipt for supply of goods it is mandatory to issue receipt voucher ? can i issue tax invoice instead of receipt voucher? although it is not taxable as per section 148.

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9 Replies

Durga Prasad (97 Points)
Replied 21 April 2020

If the advance amount is less than 1000 then it is the choice of the supplier to include in the invoice at the time of supply or set off with the next supply .
If the advance amount is more than 1000 he is liable to pay Gst when he receives advance.

If advance received by the supplier then it is compulsory to issue receipt voucher.
At the time of supply supplier issue invoice

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CA Naveen Chand (Chartered Accountant) (12739 Points)
Replied 21 April 2020

receipt voucher is issued against advance received to any supply of goods / service / both where rate / nature of such supply is not determinable .

Advice : you shall issue receipt voucher in the context of Sec 31 as the word is "shall"

Abhishek trivedi (student) (35 Points)
Replied 21 April 2020

As per section 31(1) tax invoice shall be issued before or at the time of (removal or delivery) of goods. my query is at the time of advance receipt can i issue tax invoice?

RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 21 April 2020

@ Mr Abhishek Trivedi.,

You can issue Receipt for the advance received by You...

GST not applicable for receiving advance against supply of goods...

(can i issue tax invoice?)

How to You issue Tax Invoice without supplies...?
No need to issue Tax Invoice if not make any supplies

Abhishek trivedi (student) (35 Points)
Replied 21 April 2020

According to definition of supply u/s 7(1)a, advance receipt is also consider as supply as it specifically mention " agreed to be made"

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RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 21 April 2020

Ohhh Okay Dear...

Can You give the definition or explanation for the above said (or posted) by You dear...

sabyasachi mukherjee (27746 Points)
Replied 23 April 2020

@ abhishek

sec 31 states the time of issue of tax invoice.
an invoice for supply of goods need to be issued before or at the time of removal of goods for supply to the recipient where the supply involves movement of good.

Abhishek trivedi (student) (35 Points)
Replied 23 April 2020

Before or at the time of removal or delivery as the case may be, can be issued tax invoice it means advance receipt may be issued tax invoice as sec 31(1) specifically mention before or at the time of removal or delivery.