ITC on Proforma invoice
kiran (accountant) (444 Points)
14 May 2019
can I use ITC on proforma invoice against advance payment to supplier or total amount shown in advance.
5 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 15 May 2019
No...
Proforma invoice is not a Tax Invoice So, You can't avail the ITC based on Proforma.
After getting invoice then only You can claim ITC.
Proforma invoice is not a Tax Invoice So, You can't avail the ITC based on Proforma.
After getting invoice then only You can claim ITC.
CA Haritha Komma
(Chartered Accountant)
(1147 Points)
Replied 15 May 2019
No
ITC cannot be availed on advance payment/proforma invoice.
Recent Topics
- Avoiding tax audit in case of intraday equity loss
- Form 3CEAB
- Form 3CEAA and Form 3CEAB
- DIR 3 Web KYC
- Can i declare LTCG income as business income if I
- Stock entry in new software
- I have an EMI collection shop, what is its SAC cod
- Making payment once in quarter possible under QRMP
- Master File Documentation related
- Applicability of 44AD needs clarification
Related Threads
CAclubindia
