VAT receivable also called input VAT is found on invoices coming in to your company. Or in other words input VAT is found on supplier invoices that you receive when you have purchased something to your company. The input VAT is usually deductible which means if you have more purchases than sales in a month or quarter, or whatever VAT reporting period you have, you will actually get the surplus (Output VAT-Input VAT) back. That is why it is also called VAT receivable.
What is Input VAT?
The input VAT is the same as the meaning of the VAT receivable.