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TMI BlogTime of Supply in case of delay in issue of InvoiceX X X X Extracts X X X X X X X X Extracts X X X X ..... Time of Supply in case of delay in issue of Invoice - By: - CA Akash Phophalia - Goods and Services Tax - GST - Dated:- 13-12-2017 - - The time of issue of invoice is guided by the provisions of Section 31 and Section 12 of the CGST Act 2017 . As the law is new therefore it is right to reproduce the relevant portion of the relevant provisions here as - Section 12 The time of s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... upply of goods shall be the earlier of the following dates, namely:- the date of issue of invoice by the supplier or the last date on which he is required, under sub-section(1)of section 31 ,to issue the invoice with respect to the supply;or Section 31 (1) A registered person supplying taxable goods shall, before or at the time of,- (a) removal of goods for supply ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the recipient,where the supply involves movement of goods;or (b) delivery of goods or making available there of to the recipient,in any other case, issue a tax invoice showing the description, quantity and value of goods,the tax charged thereon and such other particulars as may be prescribed. Provided that the Government may, on the recommendations of the Council, by notificatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n, specify the categories of goods or supplies in respect of which a tax invoice shall be issued, within such time and in such manner as may be prescribed. The combined reading of both the sections provides that the time of issue of invoice shall be before or at the time of removal of goods. Thus the direct impression of the provisions is to remove goods only under the cover of invoice. Howe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ver, there can be a situation when the goods are supplied and invoice is raised after a considerable time period. In this regard Rule 55(4) of CGST Rules 2017 is worth noting - Rule 55(4) of CGST Rules 2017 reads as under:- Where the goods being transported are for the purpose of supply to the recipient but the tax invoice could not be issued at the time of removal of goods for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the purpose of supply,the supplier shall issue a tax invoice after delivery of goods. By applying this rule the date of issue of invoice in the above case shall be the date on which invoice was raised after removal of goods. However, had it been a regular feature then the supplier has to face the penal consequences in addition to preponment of time of supply as per relevant provisions of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... law. CA Akash Phophalia 9799569294 [email protected] - - Scholarly articles for knowledge sharing authors experts professionals 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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