Acquisition of intangible right for inflated consideration which is financed by supplier

A GST registered vendor purports to make a supply of an intangible right to a GST registered purchaser. 2. The stated price appears to be inflated and commercially unrealistic. The price is either substantially or wholly subject to vendor finance. 3. The terms of the purported vendor finance are such that any payment is contingent. In some cases, the purchaser is not obliged to pay anything unless and until the purchaser makes profits from exploiting the right. Any payments (including interest) are limited to a proportion of the profits. 4. The vendor issues a tax invoice to the purchaser for the stated purchase price stipulated under the agreement, irrespective of whether the conditions for requiring the purchaser to make payment have been met at that time. 5. The purchaser contends that it is entitled to an input tax credit on the acquisition in the tax period in which the tax invoice is received, either on the basis that an invoice has been issued to them or that consideration has been provided. 6. The vendor accounts on a cash basis and does not remit the GST.