A recipient liable to pay tax under reverse charge is required to issue a GST Payment Voucher at the time of making payment to the supplier.
Currently, people are searching for various formats like of GST compliance Tax Invoice, GST Bill format, Receipt Vouchers etc to carry on their business activities.
In our previous posts, we have discussed following 4 types of Invoices and vouchers under the GST Regime:
Today we will discuss the 5th type that us the Payment Voucher.
A payment voucher referred to in clause (g) of sub-section (3) of section 31 shall contain the following particulars:
Source: www.cbec.gov.in
We have created an easy to use GST Payment Voucher Excel Template in compliance the above-mentioned rules. You just need to enter a few details and the template will compute all the rest items for you.
This template helps you to efficiently and easily issue the voucher for payment under Reverse charge to the supplier of goods or services.
It is useful for Accounts Assistant, Accountants, Audit Assistants etc.
Click here to Download GST Payment Voucher Excel Template for Payments Under Reverse Charge.
Click here to Download All GST Excel Templates for ₹299.
Additionally, you can download other accounting templates like Petty Cash Book, Simple Cash Book, and Accounts Payable Excel Templates from here.
Let us discuss the contents of the template in detail.
This template consists of 4 sections
Header section consists of the company name, company address, company logo, invoice number, GSTIN and the heading of the sheet “GST Payment Voucher Excel Template”.
Customer Detail consists of details of a customer such as a date, the name of the customer, address, customer GSTIN, POS(Place of Supply), Invoice Number, Invoice date against which the payment is made.
This section consist of multiple subheadings which are as below:
Sr. No.: Serial number of items/products.
Product Description: Description of the Product.
Payment Amount: The amount of payment to be paid.
CGST: This column has 2 subdivisions. The Rate and the Amount. The rate is the applicable rate of CGST which is to be entered manually. The template calculates the amount of CGST automatically where Payment amount X Rate of CGST.
SGST: The rate is the applicable rate of SGST which is to be entered manually. SGST amount is also calculated automatically where Payment amount X Rate of SGST.
IGST: The rate is the applicable rate of IGST which is to be entered manually. The Amount is the Payment amount X Rate of IGST.
Total: Below each column total of each head is made for easy calculation purpose.
Signature Section consists of remarks, Signatures of the receiver and the name of the signatory.
The amount in words: The grand total of Payment Voucher.
The summary consists of the total of Payment voucher by the customer.
Thus, Grand Total = Total Payment Amount + CGST + SGST + IGST.
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