TMI BlogTime of SupplyX X X X Extracts X X X X X X X X Extracts X X X X ..... ith respect to the supply; or (ii) the date on which the supplier receives the payment with respect to the supply. However, vide Notification No. 66/2017-Central Tax dated 15.11.2017, liability to pay tax at the time of receipt of advance has been relaxed in case of goods. Q 3. When does the liability to pay GST arise in respect of supply of services? Ans. Section 13 of the CGST/SGST Act provides for time of supply of services. The time of supply of services shall be the earlier of the following namely, (a) the date of issue of invoice by the supplier if the invoice is issued within the period prescribed under section 31(2) or the date of receipt of payment whichever is earlier; or (b) the date of provisi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pply? Ans. No. The supply of services shall be deemed to have been made to the extent it is covered by the invoice or the part payment. However, for goods payment of tax will need to be made upon date of issue of invoice, irrespective of the fact whether or not advance or part payment is received. Q 8. What is the time of supply of goods in case of tax payable under reverse charge? Ans. The time of supply will be the earliest of the following dates: a) date of receipt of goods; or b) date on which payment is made; or c) the date immediately following 30 days from the date of issue of invoice by the supplier. Q 9. What is the time of supply of service in case of tax payable under reverse charge? ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate of issue of invoice; or (iii) where the payment is received before the change in rate of tax, but the invoice for the same has been issued after the change in rate of tax, the time of supply shall be the date of receipt of payment; (However for supply of goods payment of tax need to be made only at the time of issue of invoice in terms of notification 66/2017-Central Tax dated 15.11.2017) Q 13. What is the time of supply, where supply is completed after to change in rate of tax? Ans. In such cases time of supply will be (i) 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; (H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thin which invoice has to be issued for supply of Goods? Ans. As per Section 31 of CGST/SGST Act a registered taxable person shall issue a tax invoice showing description, quantity and value of goods, tax charged thereon and other prescribed particulars, before or at the time of (a) removal of goods for supply to the recipient, where supply involves movement of goods or (b) delivery of goods or making available thereof to the recipient in other cases. Q 17. What is the time period within which invoice has to be issued for supply of Services? Ans. As per Section 31 of CGST/SGST Act a registered person shall, before or after the provision of service, but within a period of 30 days from the date of supply of service ..... X X X X Extracts X X X X X X X X Extracts X X X X
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