Advance Amount

Vijayaraghavan Sachi
watch_later 3 years, 4 months ago

 Customer has given me advance payment on 15/9/2017 but we are going to deliver the material on 20/09/2017. so I decided to raise the bill against advance payment but customer want bill on 20/09/2017 when we will deliver the material

here i now that i have to pay tax on advance payment. so i created advance receipt so my question is, i have give customer copy of advance receipt and Tax invoice also for ITC.

or I have creat advance receipt for my record only , and only Tax invoice copy to Customer so that he can avail for ITC


  • chatComments
1 Answer

GST Payer watch_later 3 years, 4 months ago

Your customer cannot avail input credit based on payment receipt.

To avail input credit customer has to get:

  • Inward supply of goods or services
  • Copy of tax invoice

Both these conditions are not satisfied with receipt voucher.

What you have done is correct.

  • chatComments
Did Not get Answer?

Join the largest Taxation Q&A platform on internet and ASK YOUR OWN question.

Ask your Question

You need to be logged in to answer.

Ask Question