Point of taxation of ra bill for work contract.
This query is : Resolved
12 May 2019
I am an Electrical Contractor providing services of erection and maintainance of Overhead Electrical lines to MSEB. & Pvt. Companies.
What is point of taxation of RA Bill is issued by me to MSEB or Pvt Co. ?
Will it be
Date RA Bill is Issued or
Date of Receipt of Payment
What will be Impact of same in GSTR 01?
What is point of taxation of RA Bill is issued by me to MSEB or Pvt Co. ?
Will it be
Date RA Bill is Issued or
Date of Receipt of Payment
What will be Impact of same in GSTR 01?
CA R SEETHARAMAN
(Expert)
13 May 2019
It is the date of RA bill(tax invoice) issued.
13 May 2019
But there is uncertainty of payment involve in RA Bill in case of Govt. Contract as bill is first Audited than payment is released.
RA Bill Also provided for receiving advance in case of long term Continuous supply of service.
Please Guide
RA Bill Also provided for receiving advance in case of long term Continuous supply of service.
Please Guide
CA R SEETHARAMAN
(Expert)
13 May 2019
Issue credit note in case of any reduction in payment received. RA bill is issued with GST you can't avoid GST payment.
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