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Whether Input Tax credit can be availed on advances made to supplier or service provider?

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Whether Input Tax credit can be availed on advances made to supplier or service provider?
posted Dec 28, 2017 by Ahana

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1 Answer

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No, 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 will only 'receipt voucher’ and Receipt Voucher is not a valid document to avail Input Tax credit.

answer Jan 2, 2018 by Naveen Kumar
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