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 Topic
- Section 54F exemption for buying a plot
- My client missed to file ITR 3 for AY 25-26
- Subscription/Membership fees
- Inverted tax gst refund
- Mismatch of pincode and district while registering
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
- SALE OF EQUITY ON THE LAST DAY OF THE FY 2024-25 N
Related Topics
CAclubindia
