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TMI BlogTime of Supply and Suspension of RCMX X X X Extracts X X X X X X X X Extracts X X X X ..... As per time of supply provisions in case of reverse charge, the time of supply for services shall be the earliest of the following dates- (a) the date of payment OR (b) the date immediately after sixty days from the date of issue of the invoice by the supplier. Now RCM is suspended w.e.f.13th Oct. I have received an invoice date 10th August.Time of supply triggers on 9th Oct.So am I supposed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to pay GST under RCM on the same.If yes by when?request you to throw some light on this topic. - Reply By Rajagopalan Ranganathan - The Reply = Madam, According to Section 12 (3) of CGST Act, 2017 - In case of supplies in respect of which tax is paid or liable to be paid on reverse charge basis , the time of supply shall be the earliest of the following dates, namely:- (a) the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... date of the receipt of goods; or (b) the date of payment as entered in the books of account of the recipient or the date on which the payment is debited in his bank account, whichever is earlier; or (c) the date immediately following thirty days from the date of issue of invoice or any other document, by whatever name called, in lieu thereof by the supplier: Provided that where ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it is not possible to determine the time of supply under clause (a) or clause (b) or clause (c), the time of supply shall be the date of entry in the books of account of the recipient of supply. Therefore you have to pay the tax on or before 10.9.2017. If you pay now you have to pay interest for delayed payment. Notification No. 38/2017 Central Tax (Rate) dated 13.10.2017 amends Notifi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cation No.8/2017- Central Tax (Rate), dated the 28th June, 2017 . This amendment is prospective in effect. Invoices issued prior to this date are liable to payment of tax under reverse charge if required by law. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = You have to pay the tax. - Reply By KASTURI SETHI - The Reply = I support the views of both experts. - Time of Supply and Suspension o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f RCM - Query Started By: - CAPurnima Bothra Dated:- 22-10-2017 Goods and Services Tax - GST - Got 3 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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