Advance Receipt and Advance Adjastment

Where any advance is received, you must issue a receipt voucher. Do not consolidate. Show the amount of advance, tax rate and tax separately for each slab (i.e 5% and 12%).

Rule 50 of CGST Rules which specifies the contents of a receipt voucher is reproduced below:

A receipt voucher referred to in clause (d) of sub-section (3) of section 31 shall contain the following particulars, namely,-

(a)  name, address and Goods and Services Tax Identification Number of the supplier; 
(b)  a consecutive serial number not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special characters-hyphen or dash and slash symbolised as “-” and “/” respectively, and any combination thereof, unique for a financial year; 
(c)  date of its issue; 
(d)  name, address and Goods and Services Tax Identification Number or Unique Identity Number, if registered, of the recipient; 
(e)  descripttion of goods or services; 
(f)  amount of advance taken; 
(g)  rate of tax (central tax, State tax, integrated tax, Union territory tax or cess); 
(h)  amount of tax charged in respect of taxable goods or services (central tax, State tax, integrated tax, Union territory tax or cess); 
(i)  place of supply along with the name of State and its code, in case of a supply in the course of inter-State trade or commerce; 
(j)  whether the tax is payable on reverse charge basis; and 
(k)  signature or digital signature of the supplier or his authorised representative: 

Provided that where at the time of receipt of advance,-

(i)  the rate of tax is not determinable, the tax shall be paid at the rate of 
eighteen per cent.;
(ii) the nature of supply is not determinable, the same shall be treated as inter-State supply.