Menu
time of supply
when a supplier receved advance money from recepient for outward supply of goods what is time of supply u/s 12 of CGST ACT ?
Replies (3)
For supply of Goods
For the supply of goods advance received is not subject to GST. The entire amount will be taxed on the issue of the invoice (w.e.f. 15th November 2017).
For supply of service
if the advance is received before the issue of the invoice the time of supply would be the date of receipt of advance.
For the supply of goods advance received is not subject to GST. The entire amount will be taxed on the issue of the invoice (w.e.f. 15th November 2017).
For supply of service
if the advance is received before the issue of the invoice the time of supply would be the date of receipt of advance.
As per Section 12 in case of advance or part payment is received then Time of Supply in case of supply of goods is restricted to the extent of advance received.
good clarification and information
Recent Topics :
- GST RATE ON FILM PRODUCTION
- Section 54
- Why are foreign investors suddenly buying Indian s
- TDS ON IMMOVABLE PROPERTY - PURCHASE FROM NRI &
- Query to Tax Garden tax consultant
- Subject: Urgent Assistance Required – TRACES
- Claiming business re-imbursements while filing GST
- E-waybill 14 Digit Numbring
- Non filing of MGT-14 for MD appointment
- HUF AFFIDAVIT vs HUF DEED - REQUIREMENTS & STA
Related Topics :
CAclubindia
