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Indenting agent - point of taxation

Rules 207 views 2 replies

Nirav Gandhi

1 Points Joined March 2021

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?

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

Thank you.

Replies (2)

Rajkumar Patel

602 Points Joined January 2020

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

anil jain

Partner

1072 Points Joined December 2009

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