what is the time of supply of goods in normal case,
Is it earlier of 1.date of invoice and 2.last date of invoice
or there is any criteria of payment also?
Time of supply of goods in GST
Replies (8)
as per section 31 of CGST Acr : Shall be before or the time of removal of goods .
Agreed with pankaj sir
@ pankaj is wrong
time of supply for goods is invoice date if issued within time
if not issued within time it's invoice due date(last date)
time of supply for goods is invoice date if issued within time
if not issued within time it's invoice due date(last date)
Time of Supply of Goods in GST as follows...
The time of supply of goods shall be the earlier of the following dates –
(a) The date of issuing of invoice (or the last day by which invoice should have been issued)
OR
(b) The date of receipt of payment
-whichever is earlier
The time of supply of goods shall be the earlier of the following dates –
(a) The date of issuing of invoice (or the last day by which invoice should have been issued)
OR
(b) The date of receipt of payment
-whichever is earlier
It is invoice date or last date for issuance of invoice only. But such last date for issuance of invoice is before or at the time of removal as per CGST Rules.
Further, TOS which says invoice or receipt whichever is earlier is not in force from 15th Nov'17 (till notified) i.e., GST is not payable on advance receipts and it is on invoice basis only..
@ rajapm receipt of payment is currently withdrawn only invoice issue date is seen
yeah... as
GST is not applicable to advances under GST. GST in Advance is payable at the time of issue of the invoice. Notification No. 66/2017 – Central Tax issued on 15.11.2017.
GST is not applicable to advances under GST. GST in Advance is payable at the time of issue of the invoice. Notification No. 66/2017 – Central Tax issued on 15.11.2017.
@ hussainali there's no payment criteria it's not pre GST too
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