Yes, payment and receipt vouchers shall be issued in the following cases:
Where tax is payable on reverse charge basis or on receipt of supplies from unregistered persons the recipient is required to prepare a payment voucher to be issued at the time of making payment [Sec. 31(3)(g)].
Receipt of advance will require that a receipt voucher be issued [Sec. 31(3)(d)].
Signature of supplier is compulsory? so does it mean that i have to take signature from every supplier? from fruit seller on the road to farmers etc....
CAclubindia
