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GST

CMA Abhay Kumar Yadav (Consultant) (132 Points)

20 January 2017

Time of supply of goods under RCM ?

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Nagendra Hegde (Chartered Accountant) (1948 Points)
Replied 23 January 2017

In case of supplies in respect of which tax is paid on reverse charge basis, the time of supply of goods shall be the earliest of the following dates, namely-

The date of receipt of goods
Date on which payment is made
The date immediately following thirty days from the date of issue of invoice by the supplier.

When it is not possible to determine the time of supply under any of the above clauses, the time of supply shall be the date of entry in the books of account of recipient.