GST on unbilled revenue at the end of the year


This query is : Resolved 

Quick Summary
This discussion clarifies the Goods and Services Tax (GST) implications for revenue that has been earned but not yet invoiced by the end of the financial year. The consensus is that GST is not immediately payable on unbilled revenue. Instead, the liability arises based on the 'time of supply' rules, meaning GST is typically due when the invoice is issued or payment is received, whichever comes first.

12 January 2021 Hi,
Is there any GST implication on the unbilled revenue (services performed but not yet invoiced) at the end of the financial year?

12 January 2021 No implication bill it in April.

12 January 2021 No, GST payable when according to time of supply.

12 January 2021 Thank you so much Seetharaman Sir

12 January 2021 Thank you so much Lekhraj Sir!


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