VAT in advance

I have a question...I think its result of too much thinking sitting idle and doing nothing. Are there any scenarios were we can pay VAT in advance? Or can we take it in advance? Just to manage cash flows during COVID times.

Sheeba Khan

15/04/2020 09:09:18

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SAJITH N15/04/2020 13:45:08

Yes, one can pay advance amount if deemed necessary and the same would stay as a credit in the portal. Under 'My payments' Tab on the portal one can elect how this advance is to be utilized i.e whether it should be offset against VAT, penalties etc.

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