What will be the Time of Supply in case of sale of flat by a builder??
Date of issue of completín certificate:or
Date of first occupation;or
Date of first instalment of consideration.
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Time of Supply
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Quick Summary
It is a case of continuous supply.
in such case whenever each installment are received TOS arises
in such case whenever each installment are received TOS arises
Whichever is earlier.......
For this sale to be taxable, some part of consideration must be received before issuance of completion certificate or date of first occupation. If TOS is taken whichever is earlier it will always date of consideration.
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