Let’s say there was increase in tax rate from 18% to 20% w.e.f. 1.6.2017. What is the tax rate applicable when services provided and invoice issued before change in rate in April 2017, but payment received after change in rate in June 2017?

Question 14 – Draft-Bills-Reports – Time of Supply – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 14 – Q 14. Let s say there was increase in tax rate from 18% to 20% w.e.f. 1.6.2017. What is the tax rate applicable when services provided and invoice issued before change in rate in April 2017, but payment received after change in rate in June 2017? Ans. The old rate of 18% shall be applicable as services are provided prior to 1.6.2017. – Statutory Provisions, Acts, Rules, Regul

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =