Invoice of credit and TDS

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37 Points Posted on 22 April 2020

Hi to all,   

I would like to know if a business is an export service and is nill rated. Due to SARS-CoV-2, the invoice of march is credited on the 14th of April, does he/she should consider it for the March invoice while filing GST? 

The business has consultants to be paid and due to the pandemic and late payment of consulting fee,  TDS now forwarded from March to April. So expenses are considered for April from March invoice.

Please suggest. Regards.

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On 22 April 2020 at 07:31 Report
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Quick Summary
This discussion addresses the GST implications for a nil-rated export service business when a March credit note is issued in April. It explores whether this credit should be accounted for in the March GST return. Additionally, it covers the impact of delayed consultant payments, causing TDS to shift from March to April, and how this affects expense recognition. The advice centres on applying the 'time of supply' rules to determine the correct period for filing.

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Chartered Accountant
12739 Points Posted on 22 April 2020

determine as per "time of supply"

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On 22 April 2020 at 08:19
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602 Points Posted on 22 April 2020
You will have submit invoice according of "Time of supply of services u/s 14"
supply shall be considered in month for return filing on date of following, (earlier of following) .
1) Date on which supply recored in book
2) Date on which Payment of Supply CR. to Bank Account
3) Date of invoice,(if invoice issue on, or before with 30days from Supply complation.)
OR
3) if invoice not issue on, or before with 30days from Supply complation, than Date of complation of service
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On 22 April 2020 at 09:56
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37 Points Posted on 22 April 2020

Hi, 

That makes sense, thanks, Naveen and Rajukumar. 

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On 22 April 2020 at 13:48

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