whether the input tax xredit available on advance payment of gst? the details of case is as follows:
my cliemt has recieved an tax invoice for advance payment but the invoice contains number of advance invoice and discripttion contains advance for services.. as he charges tax on advance and issue invoice can credit can be availed?
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credit on advance
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Dear Sahil, i understand that your client has received a receipt vocuher for advance payment made to the supplier and please note as per section 16 of CGST act , pre requisite for availing a ITC is a Tax invoice which is receipt voucher in your case.Hence you can't take ITC on the se doxument. Once the supplier issue the Tax invoice you can instantly claim ITC .
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