LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

revenue stamp on voucher

abid (accountant) (169 Points)

05 December 2007

hi,

if a payment made by cash and the computer generated voucher is signed by the receiver whether it is required to affix a revenue stamp on the voucher where the payment is more than Rs.500/-

Thanks & Regard

Abid Hussain

Reply
Follow
Share

23 Replies

Jagrut Shah (Chartered Accountant) (80 Points)
Replied 05 December 2007

Dear, Revenue stamp require on more than 5000 Rs. payment on cash and not on 500Rs.

K V Subba Rao (Service) (2708 Points)
Replied 05 December 2007

Method of preparing Receipt, that is, written by hand or typed or computer generated form cannot, by any stretch of imagination, be the criterion for deciding whether a particular Receipt needs to be affixed with Revenue Stamp or not.

abid (accountant) (169 Points)
Replied 06 December 2007

Thanks Mr. Jagrut and Rao

Hari Venkata Ramana (M.Com, AICWA) (124 Points)
Replied 19 April 2008

for all payments valuing more than Rs. 500/- stamp duty is payable. Either it is by way of affixing stamp on payment voucher or through making consolidated remittance to Government. However for second option u need to take prior approval from the concerned. You may call me for further clarification.

To my knowledge this ceiling is revised to Rs. 5000/- keeping in view the practical difficulty.

salma (lawyer) (41 Points)
Replied 07 May 2008

under what law can i find some information relating to revenue stamps ?

salma (lawyer) (41 Points)
Replied 07 May 2008

under what law can i find some information relating to revenue stamps ?

(Guest)

I understand from a post office in Mahim, Mumbai that 'Revenue Stamp' has been discontinued. Thus what can be affixed on a rent receipt for more than Rs. 5000?

anupam (ca student) (49 Points)
Replied 28 May 2008

go to another post office get the stamp and fix it if not doing so you are violating law..

(Guest)

Pls. guide me that what is the stamp duty on payments and receipt for more that 1000/- payments and receipt. or where it is necesary to take sign on stamp on receipt vouchers also? Pls guide

CA Nikhil Mittal (Manager (Audit)) (77 Points)
Replied 12 July 2008

Dear Manish,

As i know there is no rule to pay stamp duty on payment of upto the amount of Rs. 5000. But for better internel control organisations follow the system of affixing stamp on A4 paper together with the sign of the receipnt. This is followed in the case where amount paid is immeterial say. upto Rs. 5000.But for the payment of more than Rs. 5000 it is necessary to pay stamp duty on voucher together with the sign of receipnt. Although no amount exceeding Rs. 20000 can be paid in cash.

For the matter of taking sign on stamp on receipt voucher i do not think there is any such necessity. But as i said above it is good to take sign on receipt voucher.

Link for indian stamp Act

https://dateyvs.com/gener05.htm

Hope this will help you.

Always yours