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CONCEPT OF TIME, VALUE AND PLACE OF TAXABLE SUPPLY - Coggle Diagram

- - - - Where location of the supplier and the place of supply are in
        
        two different States;
        
        two different Union territories
        
        State and a Union territory
      - (1) Import
      - (2) supplier located in India and the place of supply is outside India
      - (3) to or by a Special Economic Zone developer or a Special Economic Zone (SEZ) unit
      - (4) in the taxable territory, not being an intra-State supply and not covered elsewhere in this section
    - - Where location of the supplier and the place of supply are in
        
        same State or same Union Territory
- - - - SERVICES
      - STATUS OF RECIPIENT
- - - - a. On / before the time of removal of the goods, where the supply involves movement of the goods
      - b. On / before the delivery of the goods to the recipient, where the supply doesn’t involve the movement of the goods
      - c. On / before the issuance of the statement of account, in case of a continuous supply of goods
      - d. On / before the time of supply subject to a maximum of 6 months from the date of removal, whichever is earlier, where the goods are supplied on “approval for sale / return” basis
    - - a) Date of receipt of goods
      - b) 30 days from the date of invoice
      - c) Date of payment, which is the earlier of the date of debit in the bank account as reflected in the bank statement and the date of recording the payment in the books of account, by the recipient
  - - - • In cases where the invoice has been issued on time, as per Section 31, earlier of the date of invoice and the date of receipt of payment
      - o Date of receipt of payment would be the earlier of the date of credit in the bank account or the date of entry in the books of account, whichever is earlier
      - • In cases where the invoice has not been issued on time, per Section 31, earlier of the date of provision of service and the date of receipt of payment
      - o Date of receipt of payment would be the earlier of the date of credit in the bank account or the date of entry in the books of account, whichever is earlier
    - - a) 60 days from the date of invoice &
        b) Date of payment, which is the earlier of the date of debit in the bank account as reflected in the bank statement and the date of recording the payment in the books of account, by the recipient
  - - - Section 14(a)
        
        1) where the invoice for the same has been issued and the payment is also received after the change in rate of tax, the time of supply shall be the date of receipt of payment or the date of issue of invoice, whichever is earlier; or
        
        2) where the invoice has been issued prior to the change in rate of tax but payment is received after the change in rate of tax, the time of supply shall be the date of issue of invoice; or
        
        3) where the payment has been received before the change in rate of tax, but the invoice for the same is issued after the change in rate of tax, the time of supply shall be the date of receipt of payment
      - Section 14(b)
        
        1) where the payment is received after the change in rate of tax but the invoice has been issued prior to the change in rate of tax, the time of supply shall be the date of receipt of payment; or
        
        2) where the invoice has been issued and payment is received before the change in rate of tax, the
        
        time of supply shall be the date of receipt of payment or date of issue of invoice, whichever is earlier;
        
        3) where the invoice has been issued after the change in rate of tax but the payment is received before the change in rate of tax, the time of supply shall be the date of issue of invoice:
- - - - (i) such discount was known and agreed at the time of supply, that is, established in terms of an agreement entered into at or before the time of such supply and specifically linked to relevant invoices; and
        (ii) input tax credit as is attributable to the discount on the basis of document issued by the supplier has been reversed by the recipient of the supply.
    - - (ii) such persons are legally recognized partners in business;
      - (iii) such persons are employer and employee;
      - (iv) any person directly or indirectly owns, controls or holds twenty-five per cent. or more of the outstanding voting stock or shares of both of them;
      - (v) one of them directly or indirectly controls the other;
      - (vi) both of them are directly or indirectly controlled by a third person;
      - (vii) together they directly or indirectly control a third person; or
      - (viii) they are members of the same family;