Maharashtra vat
This query is : Resolved
28 April 2014
Mumbai based Limited liability partnership (LLP).
Advance given to suppliers, can we claim Input VAT Credit on advance payment to suppliers made in 2013-14, till this date we didn't received tax invoice.
Advance given to suppliers, can we claim Input VAT Credit on advance payment to suppliers made in 2013-14, till this date we didn't received tax invoice.
28 April 2014
If you pay your supplier in advance, you cannot claim the VAT element of the payment without a valid VAT invoice.
If you claim input VAT on a supplier’s invoice, but fail to pay the supplier within six months you normally have to repay the VAT.
If you pay your supplier in advance, you cannot claim the VAT element of the payment without a valid VAT invoice.
If you claim input VAT on a supplier’s invoice, but fail to pay the supplier within six months you normally have to repay the VAT.
28 April 2014
Thanks sir ji for your reply.
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