Indenting agent - point of taxation

383 views 2 replies

Sir,

I am indenting agent and receiving commission on sales of goods. I issue invoice to overseas principal once every quarter - my question is when is GST payable?

example

Sales during Jan - March 2021 : Invoice to be raised during April 2021.  Payment received from overseas supplier in April 2021.

GST payable: During May 2021

Is this correct?

or

Should I issue invoice every month even though my principal remits payment only once after end of each quarter?

Thank you.

Replies (2)
You has to raise invoice on date of earlier of Payment received if you are providing service for more than 3 montha

Better to raise monthly invoice.

The invoice referred to in rule 46, in the case of the taxable supply of services, shall be issued within a period of thirty days from the date of the supply of service

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