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Input tax credit

Abhishek Saurav (34 Points)

01 January 2019

can I take credit on advance paid against service

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3 Replies

Sarath Rajendran (Nil) (2791 Points)
Replied 01 January 2019

if the payment is made in instalments you can take itc on last payment

otherwise you can take input on payment

swetank Pandey (6 Points)
Replied 01 January 2019

what is notification no. 76/2018 central tax and 75/2018 central tax

saurabh sawlani (2157 Points)
Replied 01 January 2019

Normally, ITC is taken on basis of ‘Electronic Credit Ledger’. However, 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 has to issue only ‘receipt voucher’.

Input tax credit is available only if goods or services are received with invoice document.