GST: 10 POINT SERIES ON TIME OF SUPPLY OF SERVICES
By: – Puneet Agrawal
Goods and Services Tax – GST
Dated:- 5-11-2016
TIME OF SUPPLY OF SERVICES
* Rules for determining “time of supply of services” are contained in Section 13 of the CGST/ SGST Act. Even for the purpose of determining time of supply of services, made in the course of inter-state trade or commerce, Section 13 of the CGST/ SGST Act would be applied.
* Section 13 is pari materia to the Point of taxation Rules, 2011 as contained in the service tax law.
* Time of supply of service shall be:
* If invoice is issued within the prescribed period, the earliest of:
* date of issue of invoice; or
* date of receipt of payment
If invoice is not issued within
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contract – date on which payment is liable to be made by the recipient
* Where due date of payment is not ascertainable from contract, earlier of
* Each receipt of payment by supplier;
* Each issuance of invoice
Where payment is linked to completion of an event –
* Time of completion of that event.
Although “continuous supply of services” is defined in Section 2(31) of the CGST Act but for the purpose of the above provision that definition does not apply. Central Government/ State Government, on recommendation of council, would notify the services that shall be treated as “continuous supply of services”.
In case tax is payable under reverse charge, time of supply shall be earliest of following:
* date of receipt of services
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