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Time of supply of goods

Section 12 - TIME AND VALUE OF SUPPLY - Goods and Services Tax - Section 12 - CHAPTER IV TIME AND VALUE OF SUPPLY 12. (1) The liability to pay CGST / SGST on the goods shall arise at the time of supply as determined in terms of the provisions of this section. (2) The shall be the earlier of the following dates, namely,- (a) the date of issue of invoice by the supplier or the last date on which he is required, under section 28, to issue the invoice with respect to the supply; or (b) the date on w .....

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may be, the payment. Explanation 2.- For the purpose of clause (b), the date on which the supplier receives the payment shall be the date on which the payment is entered in his books of accounts or the date on which the payment is credited to his bank account, whichever is earlier. (3) In case of supplies in respect of which tax is paid or liable to be paid on reverse charge basis, the time of supply shall be the earliest of the following dates, namely- (a) the date of the receipt of goods, or .....

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