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Time of supply :alarm_clock: (:one: Section 13: Time of supply of…
Time of supply :alarm_clock:
:one: Section 12 time of supply OF GOODS :gift:
EARLIER of the following
the date on which the supplier receives the payment
supplier of taxable goods receives an amount up to 1000/- in excess of the amount indicated in the tax invoice, :star:
time of
supply to the extent of such excess amount shall
date of issue of invoice in respect of such excess amount
MEANING earlier of :star:
the payment is entered in his books
of account
or the date on which the payment is credited to his bank account
last date on which he is
required to issue invoice
before or at the time of
delivery of goods or making available thereof to the recipient (in any other
case,)
removal of goods for supply to the recipient (where the supply involves
movement of goods
date of issue of invoice by Supplier
Supply of goods on RCM earlier of these
or earlier of these
date of payment as entered in the books of account of the recipient
date on which the payment is debited in his bank account
date of the receipt of goods
immediately following :three: :zero: days from the date of issue of invoice or
any other document BY SUPPLIER
NOT POSSIBLE TO DETERMINE
date of entry in the
books of account of the recipient of supply.
:two: supply of vouchers by a supplier :star:
supply (ENTAILED BY VOUCHER) is identifiable at that point
date of issue of voucher
all other cases
date of redemption of voucher
Addition in value of by
way of interest, late fee or penalty for delayed payment of any consideration :star:
date
on which the supplier receives such addition in value.
:one:
Section 13: Time of supply
of services
the invoice is issued EARLIER OF
date of issue of invoice by the supplier
date of receipt of payment
invoice is
not
issued EARLIER OF
date of receipt of payment
date of provision of service
IN ANY OTHER CASES
date on which the recipient shows the receipt of services in his books of
account
Supply of goods on RCM earlier of these
EARLIER OF
date of payment as entered in the books of account of the recipient
date on which the payment is debited in his bank account
date immediately following :six::zero: from the date of issue of invoice or
any other document,
not possible to determine
date of entry in the
books of account of the recipient of supply.
not possible to determine the time of supply in case of :one: & :two:
where a periodical return has to be filed
the date on which such
return is to be filed
in any other case
the date on which the tax is paid
starred points :star: are common points of time supply of GOODS AND SERVICES