Input tax credit
Abhishek Saurav (34 Points)
01 January 2019
can I take credit on advance paid against service
3 Replies
Sarath Rajendran
(Nil)
(2791 Points)
Replied 01 January 2019
if the payment is made in instalments you can take itc on last payment
otherwise you can take input on payment
swetank Pandey
(6 Points)
Replied 01 January 2019
what is notification no. 76/2018 central tax and 75/2018 central tax
saurabh sawlani
(2191 Points)
Replied 01 January 2019
Normally, ITC is taken on basis of ‘Electronic Credit Ledger’. However, if advance
payment was made before receipt of goods and services, input tax credit cannot be
taken as goods and services are not received.
At the time of payment of GST on advance, the supplier of goods and services cannot
issue tax invoice. He has to issue only ‘receipt voucher’.
Input tax credit is available only if goods or services are received with invoice document.
payment was made before receipt of goods and services, input tax credit cannot be
taken as goods and services are not received.
At the time of payment of GST on advance, the supplier of goods and services cannot
issue tax invoice. He has to issue only ‘receipt voucher’.
Input tax credit is available only if goods or services are received with invoice document.
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