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of <h1>Issuing Receipt and Refund Vouchers: Key Requirements Under CGST Act, Rules 50 and 51 Explained</h1> The requirements for issuing receipt and refund vouchers under the Central Goods and Services Tax (CGST) Act. Upon receiving an advance payment for goods or services, a registered person must issue a receipt voucher detailing the supplier's and recipient's information, payment amount, tax details, and more as per Rule 50. If no supply occurs and no tax invoice is issued, a refund voucher may be issued, containing similar details as per Rule 51. The document also specifies procedures for undetermined tax rates and supply nature, defaulting to an 18% tax rate and treating the supply as inter-State.
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