Section 2(118) of CGST Act: Meaning of “Voucher”
As per Section 2(118) of the Central Goods and Services Tax (CGST) Act, 2017, unless the context otherwise requires, the term “voucher” has been defined, as under:
Section 2(118) of CGST Act: Definition of “Voucher” (CHAPTER I – PRELIMINARY)
“voucher” means an instrument where there is an obligation to accept it as consideration or part consideration for a supply of goods or services or both and where the goods or services or both to be supplied or the identities of their potential suppliers are either indicated on the instrument itself or in related documentation, including the terms and conditions of use of such instrument.
The Central Goods and Services Tax (CGST) Act, 2017 was notified by Govt. on 12 April, 2017 and CBIC has notified the commencement date for various Sections/ Provisions thereof from time to time. Subsequently, Govt. has notified the Central Goods and Services Tax (CGST) (Amendment) Act, 2018 on 30 Aug. 2018. However, commencement date of amended provisions of various Sections is to be separately notified by CBIC, except where specifically mentioned in the CGST Amendment Act, 2018 itself.