Input tax credit allowable without upfront payment, provided recipient remits consideration and tax to supplier within prescribed period. The recipient may claim input tax credit without prior payment to the supplier, provided the recipient pays the outstanding consideration together with ... Summary
Input tax credit allowable without upfront payment, provided recipient remits consideration and tax to supplier within prescribed period.
The recipient may claim input tax credit without prior payment to the supplier, provided the recipient pays the outstanding consideration together with the tax to the supplier within the prescribed period after issuance of the invoice; this payment condition does not apply to supplies subject to reverse charge.
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