Sir, as per Proviso to Sec. 13 (2) it is at the option of tax payer to pay the tax at the time of invoicing for the advance taken upto Rs. 1000. Whereas as per Sec 31(3) (d) Receipt voucher needs to be issued for any advance amount received. Query is whether Receipt voucher needs to be issued for any amount or only for advances more than Rs. 1000 ?
As per the governing provisions viz Sec 31(3)(d) of the CGST Act read with Rule 50 of the CGST Rules, no minimum limit in regard to issue of receipt voucher has been mandated , which means it has to be issued for all cases viz even cases where advances are less than Rs 1000/-.
It is worth noting here that such receipt voucher is to be issued in r/o advance received for ANY supply of goods / services. Thus same is also to be issued for supply of exempt goods or services.
Team Clearmytax.in