Gst applicable in material advance ?

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2 Points Posted on 24 August 2023

i have bokd windos for our construction site but before material delivery pay the 50% advance. Suppler make advance invoice with gst. gst itc cliamed or not ?.

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On 24 August 2023 at 12:42 Report
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Quick Summary
This discussion clarifies whether Goods and Services Tax (GST) is applicable when making advance payments for construction materials. It explains that Input Tax Credit (ITC) is generally not available for such advance payments. Suppliers should issue a proforma invoice, which can then be adjusted against the final bill.

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Profession
28271 Points Posted on 24 August 2023
Not necessarily.
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On 24 August 2023 at 15:31
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"Do the Right Thing...!!!"
128157 Points Posted on 24 August 2023
No... ITC not available for this advance payment.
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On 24 August 2023 at 19:27
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Profession
28271 Points Posted on 25 August 2023
Raise a proformae invoice automatically it will be adjusted.
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On 25 August 2023 at 14:28

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