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Video Presentation on Supply Time of Supply & Place of Supply of Goods and/or Services under GST

Goods and Services Tax - GST - By: - Bimal jain - Dated:- 26-10-2016 - Dear Professional Colleague, Video Presentation on Supply, Time of Supply & Place of Supply of Goods and/or Services under GST Goods and Services Tax ( GST ) is a destination based consumption tax levied at multiple stages of production and distribution of goods and services, with taxes on inputs credited against taxes on output. GST is going to be big game changer and under proposed GST regime, all the major taxes levied .....

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ing jurisdiction as GST essentially seeks to replace an origin-based tax levy currently prevailing in India, with a destination-based consumption tax levy. Whenever there is a supply of goods, it may be comparatively easier to identify the place of supply, however, in case of supply of services, it would lead to chaos if no mechanism is established since there is no physical movement unlike goods. Thus, under GST regime, the principles of time of supply and place of supply, undoubtedly, would pl .....

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pter-IX of the ModeI IGST Act, 2016 ( ModeI IGST Act ). I: Time of supply of goods For normal supply: CGST/SGST and IGST on the goods shall be payable at the earliest of the following dates on which: Goods are removed for supply to the recipient (for goods required to be removed); Goods are made available to the recipient (for goods not required to be removed); Invoice is issued by supplier; Payment is received by supplier; Recipient shows receipt of goods in his books of account. For continuous .....

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invoice, Debit in books of account. II: Time of supply of services CGST/SGST and IGST on the services shall be payable at the earliest of the following: Situation Time of supply Invoice issued withinprescribed period Date of issue of invoice or Receipt of payment Whichever is earlier Invoice not issued within prescribed period Date of completion of the provision of service or Receipt of payment Whichever is earlier Not falling under (1) or (2) above Date on which the recipient shows the receipt .....

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the payment is linked to the completion of an event Time of completion of that event Supply of services under reverse charge: Time of supply shall be determined in same manner as in case of goods discussed supra. Understanding Place of supply of goods and/ or services At first place, the importance of determination of place of supply, lies in identification of nature of supply as Inter-State or Intra-State , based on which CGST & SGST/ IGST would be applicable. Similarly, principles of place .....

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transfer of documents during movement of goods (Bill to Ship to Model) Principal place of business of third person on whose direction goods were supplied to another person. When movement of goods is not involved (like sale of goods at showroom) Location of goods at the time of delivery When goods are assembled or installed at site Place of such installation or assembly When goods are supplied on board a conveyance (like food supplied by Indian Railways on journey) Location at which such goods ar .....

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General Rule B2B supplies: location of recipient B2C supplies: location of recipient where address on record exists, If not, then the location of supplier of services Specific Rules for identified situations & different treatment for certain B2B and B2C of specified services 1. Immovable property related services Location of immovable property Where property / vessel located in more than one state- proportionate allocation amongst states as per the contract or on reasonable basis 2 Performa .....

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vices or assigning of sponsorship: B2B supply: location of recipient B2C supply: where event is held Proportionate value of services to be considered where the event is held in more than one State and a consolidated amount is charged 4 Goods transportation services B2B supply: location of recipient B2C supply: location at which such goods are handed over for their transportation 5 Passenger transportation services B2B supply: location of recipient B2C supply: Place where the passenger embarks on .....

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