Menu
Time of supply of goods sec 12
it is given in notification no.66/2017 dated 15-11-2017 that all registered persons except composite suppliers should consider for time of supply u/s 12 is 12(2)(a). my question is in which cases will be both date of invoice and date of receipt of payment will be considered for TOS calculation of goods?
Replies (5)
Yes as Sec 12 deals with TOS of supply of goods.
Sec 13 for TOS of Services
Sec 13 for TOS of Services
as per notification no. 66/17 date of paymet isnt considered as a part of time of supply for goods under sec 12(2)
However under sec12(2) i.e time of supply of goods under forward charge machanism
*time of supply is calculated as*:
DATE OF INVOICE OR
LAST DATE OF INVOICE (SEC31)
whichever is earlier
However under sec12(2) i.e time of supply of goods under forward charge machanism
*time of supply is calculated as*:
DATE OF INVOICE OR
LAST DATE OF INVOICE (SEC31)
whichever is earlier
in case of Goods its clarify by Notification 66, advance will not consider as supply , so as per section 31 on the removal of goods on or before the invoice issued is time of supply
Mr Rohit Tibrerwal explanation is nice and good
Cases where
both date of invoice and date of receipt of payment will be considered for TOS calculation of goods- in Case of Composition Levy and In Case of TOS related to Services.
Earlier answer was Incomplete :
I was trying to elaborate and Wrongly it was submitted,
@ Subhagan thank you 😂😂😂😂
both date of invoice and date of receipt of payment will be considered for TOS calculation of goods- in Case of Composition Levy and In Case of TOS related to Services.
Earlier answer was Incomplete :
I was trying to elaborate and Wrongly it was submitted,
@ Subhagan thank you 😂😂😂😂
Recent Topic
- Indexation v/s non indexation for capital gains
- Query for practicing CAs — how does your fir
- Treatment of NPS arrears in form 10E / ITR
- Sale of shares from non resident
- SEC 10(10CC) - TAX PAID BY EMPLOYER ON NON-MONETAR
- Buy back of shares
- Capital gain and federal tax withholding
- TIS amount
- Reimbursed income
- Bricks Klin
Related Topics
CAclubindia
