9911796707
TMI BlogTIME OF SUPPLY OF GOODS AND SERVICESX X X X Extracts X X X X X X X X Extracts X X X X ..... Section 12(1) of the CGST/SGST Act, 2017 the time of supply of goods shall be the earlier of the following - (i) the date of issue of invoice by the supplier or the last date on which he is required to issue the invoice as per Section 31 of CGST Act, 2017, with respect to the supply; or (ii) the date on which the supplier receives the payment with respect to the supply. 10.3 Section 13(1) of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t; or (b) the date of redemption of voucher in all other cases. 10.5 If it is not possible to determine the time of supply in the manner stated above, then as per Section 12(5) and 13(5) of the CGST Act, 2017, if periodical return has to be filed, then the due date of filing of such periodical return shall be the time of supply. In other cases, it will be the date on which the CGST/SGST/IGST is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly shall be the date of entry in the books of account of the recipient of supply. 10.7 The time of supply of service in case of tax payable under reverse charge mechanism will be the earliest of the following dates: (a) date on which payment is made; or (b) the date immediately following sixty days from the date of issue of invoice by the supplier. 10.8 The time of supply with regard to an a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the payment is received before the change in rate of tax, but the invoice for the same has been issued after the change in rate of tax, the time of supply shall be the date of receipt of payment. For supply of goods payment of tax need to be made only at the time of issue of invoice. 10.10 In cases where supply is completed after change in rate of tax, the time of supply will be- (i) where the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... where the supplier is located outside India will be the earlier of date of entry in the books of account of the recipient of supply or the date of payment. That is, the levy under GST is attracted once such book entries are made even if no actual payment takes place or no invoice is issued. 10.12 The time of supply in respect of continuous supply of services will be the date by which the invoice ..... X X X X Extracts X X X X X X X X Extracts X X X X
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