X purchased goods from Y and instead of making actual payment to Y against this purchase, the amount was adjusted against purchases made by Y from X. Can X claim Input Tax credit against purchases made from Y since one of the conditions for claiming ITC is payment should be made to the supplier within 6 months from the date of invoice? Please guide.
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Input Tax Credit
Replies (3)
Yes he can claim ITC
Yes can claim itc ..
You can claim.
payment be actual payment or by book adjustment.
payment be actual payment or by book adjustment.
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