Can ITC be claimed by a recipient for tax paid on advance given to supplier which was later forfeited due to cancellation of contract by the recipient and where no invoice was issued neither the goods/services were delivered ?
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ITC on advance forfeited by supplier upon cancellation of contract by recipient
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No... ITC cannot be claim on Advance .
(As per Section 16(2) : must have Tax Invoice or Debit Notes to claim ITC)
(As per Section 16(2) : must have Tax Invoice or Debit Notes to claim ITC)
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