credit on advance

ITC / Input 173 views 1 replies
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?
Replies (1)
First, for advance receipts - receipt voucher should be issued showing tax amount
But itc can be availed on the basis of tax invoice only.
If the party has issued tax invoices you can very well take the credit on the basis of the same ,only incase of services.
Because in case of supply of goods you cannot take the credit unless the goods are actually received as per section 16.


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