hello members
if invoice date is 1jan18 and supply of service is 2feb18.
them time of supply is considered 1jan or 2feb for payment of tax.
thanks in advance for sharing knowledge.
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time of supply
Replies (1)
As per SECTION 13 of the CGST Act 2017, "TIME OF SUPPLY OF SERVICE", the Time of Supply of Service shall be Earlier of the following-
(1). Date of Invoice.
(2). Date of Payment.
Since you have issued the invoice earlier, your time of Supply of Service will be the date of issuing Invoice and accordingly you have to file your Return and pay the applicable Taxes.
Therefore in your case Time of Supply will be date of issue of invoice i.e. 1st January 2018 and accordingly you have to pay taxes and file Return.[ 20th February 2018 ].
(1). Date of Invoice.
(2). Date of Payment.
Since you have issued the invoice earlier, your time of Supply of Service will be the date of issuing Invoice and accordingly you have to file your Return and pay the applicable Taxes.
Therefore in your case Time of Supply will be date of issue of invoice i.e. 1st January 2018 and accordingly you have to pay taxes and file Return.[ 20th February 2018 ].
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