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TMI Blog2023 (12) TMI 937X X X X Extracts X X X X X X X X Extracts X X X X ..... and the RGST Act are the same except for certain provisions. Therefore, unless a mention is specifically made to such dissimilar provisions, a reference to the CGST Act would also mean a reference to the same provision under the RGST Act. Further to the earlier, henceforth for the purposes of this Advance Ruling, a reference to such a similar provision under the CGST Act / RGST Act would be mentioned as being under the "GST Act". The issue raised by M/S Pink City Steel Rolling Mills Pvt Ltd., G-458 D, Road No. 12,VKIA, Jaipur-302013, Rajasthan(hereinafter referred to as "applicant"). Applicant is registered and the applicant petitioner is manufacturer sold good to purchaser in the name of M/s Pink City Steel Rolling Mills Pvt Ltd. Applican ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of demand of interest/debit of interest in the account of purchaser of goods and whether the fresh invoice of interest for delayed payment be issued or not in spite of non-receipt of interest? Q3. Whether GST payable on accrual basis? D. PERSONAL HEARING In the matter personal hearing was granted to the applicant on 03.08.2023. Adv. Nirmal Kumar Goyal, Shree Shankar Lal Verma Authorized Representatives appeared for personal hearing. He reiterated the submission already made in written submission. E. COMMENTS OF THE JURISDICTIONAL OFFICER The Jurisdictional office of Deputy Commissioner, State Tax, Circle-A Jaipur-lV, Rajasthan, has given his comments vide his letter S.No. 1762 Dated- 17 02.2023 which is as under- Q1. At what stage t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the time of hearing, We have also considered the issues involved, on which advance ruling is sought by the applicant, and relevant facts. We would like to discuss the submission made by applicant and will take up the above question for discussion one by one. 2) The questions of law raised by the Applicant are - (i) . At what stage the GST is to be paid on delayed payment of interest that is not still paid by purchaser of goods? (ii) Whether at the time of demand of interest/debit of interest in the account of purchaser of goods and whether the fresh invoice of interest for delayed payment be issued or not in spite of non-receipt of interest? (iii) Whether GST payable on accrual basis. 3) We find that as per Section 15 of CGST Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ax invoice, the time of supply to the extent of such excess amount shall, at the option of the said supplier, be the date of issue of invoice in respect of such excess amount. Explanation 1.- For the purposes of clauses (a) and (b), "supply shall be deemed to have been made to the extent it is covered by the invoice or, as the case may be, the payment." Explanation 2.- For the purposes of clause (b), "the date on which the supplier receives the payment" shall be the date on which the payment is entered in his books of account or the date on which the payment is credited to his bank account, whichever is earlier. We observe in respect of question no 1 and 2, which are same in nature Section 12(6) of Act have specific provisions. Sec. 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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