Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Voucher Mandatory?

821 views

Save Share

Join Us Follow Us Add as Source

rakesh

student

249 Points Posted on 23 February 2022

is preparing and maintaining voucher is mandatory as per any law?

Replies (3)

Quick Summary

This discussion clarifies whether preparing and maintaining financial vouchers is a legal obligation. It confirms that vouchers are indeed mandatory, especially when supporting documentary evidence like invoices is unavailable. For instance, small cash payments to service providers who don't issue invoices require a signed voucher as proof of payment. Vouchers are crucial for audit purposes and are legally required for GST-related payments and receipts under the CGST Act.

prasad Nilugal

GST Practitioner & Accounts

8992 Points Posted on 23 February 2022

Yes , maintaining voucher are mandatory , even if it is in low or not , because if you have supported documentary evidence then you can attached to the voucher , but in case of Cash payment voucher is must for example a office cleaning person , tea vendor for office , they are not issuing any Invoice , so you have to take signature of that person on the voucher for money receipt also preparing voucher the in important for Audit purpose in such case . So in my opinion in all cases Voucher is must .